Tryot,
One of our famous forefathers once said, " the only thing you have to fear is fear itself."
If positive remarks about ERHE scare you and your 11 year old son, I suggest you fellers put me on ignore.
My post came as a result of reading the particulars of China buying 45% of APKO, and a comparison of that to our situation.
Was I a little high on my 50% remark, a collective percentage I used for B2, B3, and B4 ??
According to the breakdown, I was about 0.3% high. Should of checked it. It's actually 49.7%, not 50% My bad. Sorry.
Here's the breakdown :
BLOCK Participants:
Block 1 (704 sq kms): (51%)=ChevronTexaco, (40%)=ExxonMobil, (9%)=Dangote Energy (Afren has an effective 4.41 per cent. interest in Block 1). The JDZ Block-1 is located approximately 190 miles (300 kilometers) north of the city of São Tomé and approximately 125 miles (200 kilometers) from the city of Port Harcourt in Nigeria.
Block 2 (692 sq kms): (28.67%)=Sinopec, (22%)=ERHC, (15%)=Equator and ONGL Videsh, (14.33%)=Addax, (10%)=A & Hartman, (5%)=MoMo Petroleum, (5%)=Foby Engineering
Block 3 (666 sq kms): (51%)=Anadarko, (15%)=Addax, (10%)=ERHC, plus several Nigerian firms
Block 4 (857 sq kms): (38.3%)=Addax, (17.7%)=ERHC, plus Hercules and Centurion
Block 5 (1091 sq kms): (15%)=ERHC, plus other unknowns
Block 6 (588 sq kms): (15%)=ERHC, plus other unknowns
Block 7 (1286 sq kms): withdrawn
Block 8 (822 sq kms): withdrawn
Block 9 (1723 sq kms): withdrawn
Total all Blocks: 8,429 sq kms
Course, you add in our percentages in B5 and B6 and you might be able to add another 30% to the already COLLECTIVE 49.5% we have in B2-B4.
So, 50% is not outlandish as you suggest. AND, it certainly is not 17.5 %, as you mistakingly correct.
My comparison was the APKO deal versus ERHE's rights in B2, B3 and B4. I thought it was auspiciously clear and clearly opinion.
So, go ahead, twiddle down my prognosis, and while you're at it, triple yours.
The board is for positive remarks, negative remarks, trader remarks, TA and such. Don't be scared to read them all.
Best,
Red
