ERHC Energy Inc (ERHE)

[tryoty]

The obvious "who" is CEPSA... the "how much" is anyone's guess... CEPSA dumped another block and grabbed this one for a reason. If this well is a success, what they are willing to pay will be defined by their confidence in the block as a whole.

IMO, they won't pony up an offer until they know more, and they won't know more until they drill more, and ERHC can't pay for more drilling so.... CEPSA has to reach a carry deal with ERHC to proceed.

If that means we get diluted from a potential of $20-$30 per share and have to accept $10-$15... darn nice problem to have, IMO.