ERHC Energy Inc (ERHE)

[Nightdaytrader]

Tiny Houston firm strikes gold in huge oil deal

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Opus, I've been invested in this company since I saw 2005 article below. :>) Long, long, long, long time ago :>)

ND9
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Tiny Houston firm strikes gold in huge oil deal
Tiny player strikes gold in huge oil deal
African nation promises local ERHC Energy a share of profits
DAVID IVANOVICH

Copyright 2005 Houston Chronicle Washington Bureau
March 13, 2005

The impoverished West African nation of São Tomé and Príncipe may soon become the world's newest oil exporter, and its leaders have entrusted the country's great hopes to an obscure Houston company.

The winner of this prize: ERHC Energy, which has one full-time employee, $20,272 in cash at the Sept. 30 end of its 2004 fiscal year ($915,330 as of Dec. 31) and no experience drilling offshore.

This little-known company, based in a Westheimer office building, has been promised a share in a potential crude bonanza in the Gulf of Guinea.

São Tomé and neighboring Nigeria have been evaluating bids from oil companies wanting to drill in waters that are believed to hide more than 11 billion barrels of crude.

Five offshore blocks in a joint development zone are up for grabs. Little ERHC has been guaranteed a cut in each one.

"I've never heard of anything like it, anywhere in the world" — at least not since Africa's colonial days, said Jedrzej George Frynas, a lecturer in international management at England's University of Birmingham.

Exxon Mobil Corp. has been granted rights to claim a stake in two of these blocks. The oil industry is watching to see whether the world's largest publicly traded company will jump in with this strange bedfellow.

ERHC's aggressive, penny-stock investors are all but salivating at the prospects.
On Web sites such as www.ragingbull.com or Bradenton, Fla., investor Joe Shea's weblog, erhc.blogspot.com, they trade tips and rumors as they await word that the blocks have been awarded.

"I'm a little disappointed that I'm not already a millionaire," Shea said.

https://www.chron.com/business/energy/article/Tiny-Houston-firm-strikes-gold-in-huge-oil-deal-1934213.php