ERHC Energy Inc (ERHE)

[kingpindg]

For starters, Kosmos signed a PSC on Block 5. They completed their Phase I seismic requirement and moved to Phase II in 2019. COVID gave them a legitimate excuse to get some extended time and STP has allowed them even further extensions. Maybe because they make the payments (training, social, etc.) required by their PSC on time.

And Kosmos updates on Block 5 in their SEC filings (remember those), as needed. Like this from their Q2 filing in August:

In April 2024, we received approval for a twelve month extension to May 2025 for the current exploration phase for Block 5 offshore Sao Tome and Principe.

And how do we know ERHC even had rights to extend? Sao Tome said those rights were revoked. Yes, ERHC had the caveat emptor, but what evidence do we have to show that Sao Tome and Shell gave a rat's about that?



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