ERHC Energy Inc (ERHE)

[petemantx]

Why would ERHC cease to exist if a consortium is formed to develop the JDZ? Sinopec, Addax, Anadarko, and Chevron would also be in the consortium and they won't cease to exist. All a consortium would do is change the assets in the JDZ from percentages of blocks to a percentage of the newly formed consortium. ERHC would still be able to develop non-JDZ assets (as our picks in the EEZ) alone without the consortium becoming involved as would all other consortium members in their other worldwide endeavors. Please clarify this point.

Secondly, I am not clear on the rig issue and will state how I have interpreted posts re: same and would appreciate being informed if I have interpreted incorrectly.

1. ADDAX published info re: AA contract for 5 wells/5 options
of which ADDAX contracted AA for 4 wells and 4 options and
SINOPEC contracted AA for 1 well and 1 option.

2. ADDAX is looking for a "rig of opportunity" for 1 well
and 1 option and is expected to get same but it is
currently not confirmed.

3. Are some saying ADDAX gave back a well and option from
the AA contract since they are expecting the same from
the new "rig of opportunity"? This would make no sense
as they need all the rig slots they can get and the AA
is supposedly contracted at very favorable rates.

4. Re: "rig of opportunity" It just seems odd / not quite
right that they would be able to secure a rig for just
1 well and option.

5. How did the Scarebo (sp?) rig come into play on the board
when it does not seem to be a deepwater rig?

6. AA is now due out of drydock about May 08 so after KOSMOS contract we should be getting it 1Q09? Is this timeframe as others see the current situation? If so, time slippage of only 3-4 months from earlier expectations and ADDAX has always said the AA timeframe was fluid so no terribly unexpected news.

Would appreciate all feedback as to any mistakes in my interpretations of posts and how others think things currently stand.