ERHC Energy Inc (ERHE)

[kingpindg]

Logical? Maybe. Realistic? Probably not given ERHC’s history of not putting out bad news via press release and/or 8K. They typically bury that stuff in a 10-Q or K, letting shareholders know what happened weeks, or even months, later. That is what happened with Chad and we’ve still never been informed by the company about Kenya.

What they have done is put out information like that below. From an ERHC standpoint, that seems the more logical thing to happen if they were now working with another (or possibly two) “renowned integrated oil and gas company” in a similar fashion.


Republic of Kenya Block 11A

ERHC has concluded a farm-out agreement with a renowned integrated oil and gas company.

The farm-out agreement is subject to the consent of the government of the Republic of Kenya.

Under terms of the agreement, ERHC would transfer of a portion of its interest in Kenya Block 11A as well as operatorship.
The proposed farm-out agreement includes a carry and other considerations.
As required under the farm-out agreement, until government consent is granted, details regarding the partner and terms will remain confidential.

Pending government consent to the farm-out agreement, ERHC continues to operate Block 11A.

Work is ready to commence on the airborne Full Tensor Gravity Gradiometry (FTG) survey of Block 11A following the subcontractor’s completion of work on a neighboring block.

“This is an excellent time for the entry of a technically and financially capable operating partner,” said ERHC President and CEO Peter Ntephe. “We have negotiated a mutually beneficial agreement that advances ongoing exploration in Block 11A and enhances shareholder value.”

https://www.dpkpr.com/news/government-consent-for-farmout-agreement-for-kenya-block-11a/