I personally am not going to waste any energy getting all worked up over who is "doc" or Joe Blog or Meridian or Rancho or Mongo ........ It's all pretty much irrelavant in the grand scheme of ERHE's value. I will let everyones record speak for themselves. I also refuse to speculate on the 100's of conspiracy theories floated over the years here with ERHE and the JDZ.
Here are a few plain and simple truths:
1) ERHE has rights to 6 of 9 blocks in the JDZ, 4 without paying signature bonus.
2) ERHE has rights to 4 blocks in the STP EEZ (two at 100%)
3) These rights have been agreed to, argued over, threatened in international court, renegotiated and now standing on solid ground (even though some may still not be happy).
4) Block 1 of the JDZ broke a new record for signature bonus paid and it was done by two of the largest oil companies in the world. This legitimizes the potential. They started drilling Jan 14th 2006 and expected to get results in approximately 60 days. That puts us around a week away from finding out the truth. No rumors, no back room deals, no speculations (elephants, mammoths, dusters.....) Just the oil.
5) We are one week away from the next announced signing party/meeting/ceremony/event. Until I hear officially otherwise, I expect the signing to get done for blocks 2, 3 and 4 as clearly stated. 5 and 6 are up in the air but I would prefer to see them delayed as ERHE will owe signature bonus on one of them.
6) From the Addax IPO details made public, ERHE will be getting up to $18 million in cash plus a full carry to oil in block 4. This should help greatly in the cash flow department.
7) ERHE has a MOU with the 7th largest oil company in the world for Block 2 (Sinopec) and they are cash rich, oil starved and have shown a tendancy to overpay for oil rights.
Once the PSC's are signed, all parties will begin releasing information on the details of which company gets what percentage/carried to oil/cash etc along with drilling schedules. When Block 1 drilling details are released (oil being struck), it will greatly increase the odds of other blocks with similar structures to be holding the "black gold" (and if heavily publicized rumors of the block 1 find straddling into block 2 are true and made public, ERHE will end up with proven reserves before even drilling.
All of this leads to a once highly speculative OTC stock becoming a real oil company with true calculatable value and legitimized deals with some of the largest companies in the world.
It is all about to unfold. No basher can stop it. No manipulator can prevent it.
Just
a
little
more
Patience................... it will happen.
Good luck to all,
Strategyone
