ERHC Energy Inc (ERHE)

[Krombacher]

I think it's more than that.

I think you're inclined, perhaps, to dismiss any possible involvement by Total because maybe you're inclined to believe that they're out.

I'm inclined to believe that they're still in and that the gag is still in place.

I believe this not because of wishful thinking, but because of the logic that says that if all Sao Tome had to do was wait until Sept to grab the block back, then that's exactly what they would've done.

Total's involvement very likely extended the block license expiration and that's why Sao Tome chose not to wait and instead started a bidding process on a block which is under an international caveat emptor.

Until that logic is resolved to the contrary, my belief doesn't change.

But I agree with you that only time will tell.

Krombacher