ERHC Energy Inc (ERHE)

[magicatlast]

Kobi, you are correct as far as you go, but the fact is that Addax will be allowed to recover it costs expended in carrying us from our "cost oil". So will Sinopec, with 6% interest added. It is clearly stated such in the 10Q.

Thus, we will not be liable for any cost for dry holes, but our shares of the costs if there is oil will be deducted from our portion of the "cost oil", but we will receive our portion of the "profit oil" from day one of production.

I thought we all hashed this out a couple of months ago.

Magic