ERHC Energy Inc (ERHE)

[midtieroil]

Sounds to me like ERHC gave up 70% of the block with no mention of what they got in return. My guess would be $1 million in cash so ERHC management can continue to pay themselves their bloated, undeserved salaries. And a carry of the seismic costs for their 30% interest.

I don't see drilling happening for 3 to 5 years. And I don't see a carry of any well costs.

Now I am sure we will start hearing fake news about 50 million signature bonuses like we have in the past about other ERHC farmouts. And we will probably hear that drilling will start next week. Of course both will be wrong, as usual.