Monday, November 16, 2020 7:02:31 PM
Lets assume ERHC management is holding 50% of the outstanding shares,
At 10% they collectively bank 15 million $$.
Now Total drills block 4......and their drilling hits Zero crude.....They own block 4 and say they
cap and abandon.
What will ERHC's Management do with $15 million dollars?......Not much in the oil patch!!
I continue to believe the sale SHOULD be at least $500 million upfront.. PLUS a percentage of any
commercial find.
Remember our Kenya Block 11A. Our carry was 35% of commercial oil found....I'm of the belief
that our block 4 is much more attractive (prior to drill) than Kenya's block 11A....
AND you say ????
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