ERHC Energy Inc (ERHE)

[tryoty]

CEPSA **backed out** of a partnership with Tullow/Swala in Kenya 12B and **joined ERHC Energy** to drill block 11A in Kenya. IMO, CEPSA has been and will continue to accommodate ERHC within reason.

CEPSA didn't just join ERHC to drill 11A, IMO. They have their eye on the big prize. I think if there is a strike in 11A CEPSA will take ERHC out at a nice premium over the value of that strike.

Why wouldn't they? They would get all of ERHC's 11A (-10% Circle, etc) which would be significantly derisked by the discovery... and they get Chad, the JDZ (where there are rumblings) and the huge STP-EEZ block. CEPSA could get a very nice set of properties from just one strike this month. I think *all* shareholders *and* the management of this company are ready to right the final chapter. All in all, this story has been pretty bad and the book will never make the top seller list.

Hey, I might see my oft predicted $14 per share yet. LOL! The market cap was $100M with neither oil nor drilling in sight. A discovery will be a game changer, and there will NOT be time to "get in".

If the logs show oil, my guess is CEPSA will make an offer almost immediately, and the share price will reflect that offer, also immediately.

This is an exciting and anxious period for this company.