ERHC Energy Inc (ERHE)

[midtieroil]

As I said in Kenya, I think it is likely ERHC will get a partner. Some were saying ERHC would get 50 million in cash and full carries all the way to first oil in Kenya. I said I thought they'd get a relatively small upfront payment and would be lucky to get a full carry for a single well.

I think ERHC will get less for Chad than they got for Kenya and I don't think it will excite the market much. I guess we'll see who is right this time. I tend to agree with you. It won't cause any real breakout in the stock but it might cause a slight blip depending on the deal. This might be a good trading opportunity but the risk is they do a private equity deal instead of getting a partner and the stock tanks down to the 3 cent range. That is possible too.