For those that think No one will pay $13 million for ERHE is not seeing the Big picture.
Eland Oil paid $110 million for just 20% of OML40 and $60 million of the $110 million was for paying Starcrest share of that fee plus the carry cost of upgrading OML40 FOR production after the long shut-in of this leases.
For Eland Oil to pay $13 million for:
JDZ blocks 2,3,4,5,6,& 9.
EEZ block 4, $2.5 million fee from block 11 if drilling warrants plus a 15% buy back in on two blocks.
Kenya: block 11A
Chad: may be dropped.
So for less than $1.5 million a block, Eland Oil and Starcrest thru Elcrest could be in the works.
Just my opinion
Sneak
