I'm pretty firmly set in my opinion that ERHC is far more confident than 20% on this well, and given what they have done to shareholders over the last 2 years realize there is no future for the company. Trust has been destroyed... completely.
A sniff of oil in Kenya and the company will be sold to CEPSA. Kinda makes sense that CEPSA indefinitely suspended that 2nd well. It would only drive up the price of ERHC.
I doubt we get to the 4th of July with ERHC still existing. If there was another plan Ntephe wouldn't have done what he did (3B dilution wipeout of shareholders while buying like crazy) and wouldn't be doing what he is doing now (proving he lied when he said "when the time is right" he would "excite the market")
This isn't perfect, nor do I think it's what they wanted, but this is the end-game IMO.
I won't be surprised to see them be stupid enough to try to steal the assets, and I expect that a Class Action suit to stop that theft will cost them more than if they include shareholders in the gain. Blind greed, and/or and lack of understanding, IMO.
Billion dollar thefts don't get ignored. That's why I keep diligently following the JDZ. That story is being covered up, and when it surfaces that there is oil in those blocks ERHC and Sinopec need to be held accountable for their lies.
People maintain anonymity for a reason and it is rarely noble.
