Tuesday, May 16, 2006

Big Moves: ERHE Climbs As Much as $0.15 in Pre-10Q Trading; "Everything Is For Sale,' Brandhuber Says; CNBC Profile Coming In June

Although it's fallen back to $0.585 five minutes from the bell, just an hour ago ERHC Energy shares were trading at $0.71 after climbing $0.15, or more than 26%, during the day.

The trading has been spurred by the imminent filing of an SEC 10Q that will show the company being nearly debt-free and with $45.5 million in revenues last month against what should be a negligible amount - $1 million to $2 million - of expenses.

The average daily volume mark has still not been reached as of this writing at 3:32pm ET, which means that retail buying should spike again tomorrow when the new numbers are announced. Volume at 3:40pm ET is 2,607.721.

There has also been a flurry of news via email from ERHC CEO Walter Brandhuber to several different posters. The key one was a brief response to one poster who asked about the possibility of ERHC Energy chairman Sir Emeka Offor selling the company, to which Brandhuber replied, in effect, "Everything is for sale at the right price," adding that the current share price is far too low to consider any sale right now.

The new CEO also said that a CNBC profile of the company will appear in the coming months.

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