Ponzi....you had asked, "what is your best guess for full production to begin on ERHE's blocks?"
ERHC owns blocks in the EEZ and has several other interests in the JDZ that don't even have PSC's and 2 other interests in blocks that have yet to be auctioned off. This doesn't even include ERHC's 4 interests in Sao Tome's EEZ. Therefore, my response to your question of "full production"......was many many many years.
Twere I a businessman wanting ERHC's assets....I would be first in line to make a fair offer to offor when the investigations were cleared....or....or.... gain purchasing approval through the investigative authorities. Still find it odd that Chromes attorney was dismissed by the court a few days after he (SEO) stepped down as COB. The following three posts may add clarity:
Posted by: oilphant
In reply to: None Date:8/1/2007 11:38:34 AM
Post #of 116557
Offor makes and Offer to the U.S Oafs
Posted by: oilphant
In reply to: None Date:8/16/2007 12:10:04 AM
Post #of 116557
banks and jails both have bars, SEO chose the former.
Posted by: oilphant
In reply to: None Date:8/16/2007 12:25:26 AM
Post #of 116557
He was given the opportunity to gracefully bow out. Does that sound better? His kung fu was not as strong as he thought.
Again, if there is nothing to the above posts, why did the court dismiss Chromes attorney from a mandatory court appearance just days after SEO stepped down???? Could that be a strong indication that a deal was generated between the investigators and SEO? Will he next give up controlling interest? Again, odd that he transferred 103 million shares to another account AFTER he stepped down as COB???? Yes, I think it would be wise to wait for the outcome before investing large amounts of money....but I also think the "outcome" is about to be known.
FYI....the operator of block 1 (read: OBO-1 well) has not sold it. One of the minority partners of block one sold their interest. The operator/driller still owns its interest which includes the only reported well drilled in the JDZ. The same well that it took them 5 months to report on after they began drilling. The same well that ERHC's technical advisor indicated in the 1-15-08 CC:
"..what we have seen is that from the seismic and from world trades (?) we've made with Chevron I believe JDZ partners in 2, 3 and 4 believe that there's significantly more oil and gas within the JDZ block 1 than Chevron is attributing to it at the current time."
You may also find it interesting that James Ledbetter commented on the investigation in the CC as well, stating:
"...from what I could see from ERHC even a year ago that the JDZ had significant upside potential that was no recognized or appreciated by others. uh...I had such confidence in that and in my own due diligence work I felt that the investigations that were going on were baseless uh but that is a personal issue"
