ERHC Energy Inc (ERHE)

[Meridian]

ERHC was awarded the option interest of 25% and together with NBL 35%.

Before the award there was already a deal how the award interests would be divided.

ERHC got what the agreed on a 60% basis.

So ERHC did not reduce any of its interest in connection with the godsonic deal.

why they did not PR the deal with NBL properly. I do not know. Poor management at the time i assume.

BTW PR today is not any better.

As regards the upfront addax payment in connection with the PA for block 4, they may have to restate the first 10Q.