The world of investors whose hopes and dreams are pinned to the fortunes of ERHC Energy waits with high anticipation this morning as a signing ceremony for Production Sharing Contracts covering Blocks 3 and 4 of the Nigeria-Sao Tome and Principe Joint Development Zone gets underway 10,000 miles away in the bustling capital city of Abuja, Nigeria.
While there is no word yet from the site, there is no indication that the ceremony will go anything but smoothly despite unanticipated problems in the past.
Investors who say they purchased ERHC Energy shares for a few pennies all the way back in 1999 are among those waiting to see if their daring investmnt will yield the fortunes they hope for.
Retirement IRAs, pensions, money for the kids' college years, the down payment for a new home, the solution to mountains of personal debt, a better car or apartment, the price of the long-dreamed-of cruise, the seed money for a new business - all are on the line this morning in a place few of ERHC's Western investors have ever been.
Will their dreams be realized?
That all continues to depend in part on the handful of large shareholders whose patterns of buying on the bad news and selling on the good has dashed their hopes against the rocks during countless rallies before. But there is something else this time: the momentum of success. Today's signing in Abuja would bring that, and very likely much, much more.
So far, all appears to be well. Shares of ERHC Energy are up $0.06 on light, anticipatory volume of 643,783 at 10:16am ET.
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