PETER'S VIDEO TRANSCRIBED...
Thought you all might find the following "between the lines in BOLD print" read interesting:
I’m Peter, chief operating officer with ERHC energy. We look for energy opportunities, exciting energy opportunities, and we invest in those opportunities. We are an energy investment company. At the moment, the strategy is not to become an actual operator. The strategy is to identify opportunities, invest in them and make it possible to make them happen. And I think we have shown quite what we can do with the JDZ. Because the current operations in that JDZ, under the auspices of the authority of those managing it, are being driven by people ERHC brought in. It’s our technical partners driving the entire operations in the JDZ now. And that’s what we’re saying to the investment community. Hey this is what ERHC can do. This is what we’ve done in such a prospective and promising area, which however required a lot of capital and a lot of skill. This is what we’ve introduced. We’ve introduced fundamental change, fundamental progress by the technical partners and operators that we brought in. ERHC did that, and we are very proud of that. We never want anyone to forget, it’s us, it’s me, it’s ERHC that did it.
We have made remarkable progress, remarkable progress. Because we have started drilling, we are nearly completed drilling. It’s a promise that’s been given for years, and it’s a promise that’s been kept. Drilling of course, I mean, drilling in the JDZ which is the principle focus of this company. Now we’ll know for sure what’s under the sea bed, now we’ll no for certain. Because what we’ve had is seismic, and a lot of technical studies predicting what’s down there. After drilling, and after all the analysis are done we will know for certain what we have down there. We will know for certain what is the nature of our assets down there. And those are potentially substantial assets out there. And we’ve made remarkable progress this year in the steps towards realization of those assets. So tell someone at that the end of 2009 we’d have done very well. There’s still lots of challenges, no doubt, this is a high risk business, it’s exploration and production oil industry, but we have made remarkable progress on a remarkable journey.
We’re not a massive company, but we’re not just any small company. Our position is unique and quite distinct because you realize that we are actually the major player there in terms of geographical spread. I’m not talking about the quantum of interests. In terms of spread, we have interests in the most blocks in the JDZ zone. And there’s also the EEZ, where we’re entitled to 100% of two blocks, signature bonus free, and 15% of two further blocks for which we will pay signature bonuses. So we are slightly different. We’re not just exactly a minor player, we’re not the biggest of players, but our position is distinct. And while we’re in a business, and we wouldn’t rule out any arrangements at the right price that would deliver optimal shareholder value, we are looking to long term growth. That’s really our strategy at the moment. We are looking at long term growth. We are looking at a time when ERHC will yet be a bigger company then it is now. That’s what we are looking at, subject of course to, this is a business.
We regard our shareholders as part of the large ERHC family. And especially those who have been with us for a long time. And it’s remarkable the kind of faith that they have in the company, that they have in it’s prospects. And we’re on a journey together. The company and it’s shareholders, we’re on a journey together. And we are making progress on that journey. And I know these are trying times, in terms of the fact that we are sooo close, so they want to hear all the information. Unfortunately, not only we are not the operator, the nature of this business demands that until all your results are ready, until your analysis is all done… that you keep people who are waiting for news in suspense really, because before then you are not certain what the final results are. And until you have these final results, unfortunately, you can’t tell them anything that might be misleading, or might lead the up a wrong alley. So all we’ll say about results is a little patience guys, we’ve been on this for years. A little patience, we’re just a few weeks away, hopefully, from saying YES, this is what we found down there, this is the nature of the hydrocarbons we found down there.
AI
