ERHC Energy Inc (ERHE)

[nordicroots]

I've been trying to determine whether the MOU was accompanied by a cash payment as any other option contract would be, but have not seen anything reported in this regard. If it was accompanied by a serious payment it could well be something to signal the intent of someone with a longer term interest (obviously near term oil prices are softer than before, will they go back up? Or drop down further from here? Not predicting here just saying if they go up, the option could prove to be a prudent move by an IOC. ) However, it also occurs to me that if the MOU was just a freebie (i.e., no cash payment) it could just as easily be nothing more than window dressing by mgmt in hopes of avoiding the SP debacle we are seeing with the convertibles now.

But I really do have to agree with you that given current market conditions if one of the major IOC were putting money on the line and had a serious interest in the prospect it could be a very good thing.