ERHE looks to farm out 15 to 20 percent of the Kenya block 11A.
What was the cause or reason for spending $4.5 million on the Tarach-1 well by ERHE?
The cost to drill the Tarach-1 well was pegged at $20.5 million and was spot on.
ERHE had the right to conduct an appraisal on this well at it's own expense!
So, if the well in fact cost $25 million, then ERHE would only owe 25% of that cost or $6.25 million.
If the well did cost $20.5 ad proposed, then ERHE would owe $5.125 million.
Did ERHE conduct an appraisal on the Tarach-1 for $4.5 million?
I believe the just concluded oil conference was a way to shop the Well's findings to get a fair value of what suitors may offer to participate in any farm out deal with ERHE.
Could ERHE use this information in their MOU with Starcrest to help formulate any type of financial structure that would benefit ERHE and its shareholders and creditors.
Let's Go Pete, Let's Go SEO, Let's Go ERHE!
Just My Humble Opinion.
I could be wrong, but I do not Think Sooooo!
Sneak
