The ODDS that block 4 has the most oil in the EEZ are the same as if block 4 has No Oil! The truth is somewhere in the middle (Odds wise that is)
A $124k bid for block 4 by Kosmos is quite a joke and insult to ERHE.
Kosmos claims that they may suffer up to a $500 million economic loss should ERHE prevail in selling the block to another suitor and sharing some Non-disclosure Agreement material as if Kosmos has Game Changing Technology and Experience that Total Fina does not have.
I remember when the JDZ with new operators plan to use FPSO to develop their blocks, some here laught at that plan. Now using this method in the EEZ is the best way.
As one can see if they read the Africa Energy Intelligence article last week, Kosmos did shoot 3-D in block 4 when Kosmos shot block 6.
3-D is no guarantee that hydrocarbons exist in any structure as HDYN found out and went belly up!
ERHE should prevail in there right to sell the block to the highest bidder.
Let us see what takes place next month when the Sao Tome delegation meets the Nigerian delegation about re-working the JDZ regulation that would help speed up JDZ participation
and development. The issues surrounding Kosmos, ERHE and EEZ block 4 is sure to come up. A political solution could be in the works.
How is it that a block with No apparent value based on the purchase price could warrant so much interest and legal wrangling as the rejected buyer jockeys for positioning when they are totally in the wrong.
May be ERHE was Colluding with the Russians!!
Please conduct your own research in case I am Mistaken.
Remember, some like to focus on the dark cloud hanging over ERHE, I and the "Circle of Trust" like to focus on the cloud's Silver Lining!
Sneak-attack
