ERHC Energy Inc (ERHE)

[kingpindg]

Oranto did not declare themselves the operator on the block, they were designated as the Operator in a contractual agreement between themselves and STP. And they were a perfectly capable operator in getting Phase I accomplished. And I could be wrong about their reasons for going to xrimlinger. Maybe they feel they could be the technical operator but they just want to share the financial risk of drilling a deep water well.

Why didn't ERHC think of that? Maybe they did. After all, they were designated as the Operator on the Block 11 PSC (see below). Maybe ERHC wanted to enter into a PSC for Block 4 but STP refused until they paid their taxes due on Block 11.

28.1

ERHC ENERGY EEZ, LDA is hereby designated as the Operator under this Contract to execute, for and on behalf of the Contractor, all Petroleum Operations in the Contract Area pursuant to and in accordance with this Contract and the Petroleum Law.

https://www.resourcecontracts.org/contract/ocds-591adf-3122094392/view#/search/operator


As to the conditions to completion of the ERHC/Total Assignment Agreement. I will try to address them if I get time later today.


.