Monday, July 02, 2007

Update: NY Times Attack Leaves ERHE Shares up $0.05

The attack on ERHC Energy's CEO Sir Emeka Offor in today's New York Times actually improved the share price $0.05, but momentarily produced buying opportunities at $0.295 - lasting only from 10:15:40 to 10:16:01, or about 21 seconds, when someone put 50,000 shares on the market in seven lots of 5,000 to 10,000 shares each. They were instantly bought up.

In reality, the ask never faltered from $0.305 throughout the day, and despite the story in America's most important newspaper, only 241,659 shares traded all day. The light trading is consistent with that of recent days and the impending July 4th national holiday in the United States.

Speaking of holidays, we are taking the next few days off, and want to wish all our readers - and every American, friend or foe - a very Happy Fourth of July.

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