ERHC Energy Inc (ERHE)

[Homeport]

STP News: Govt's proposed changes to oil law appear doomed in parliament.

Lusa agency cites the leaders of the two opposition parties, which together hold majority in legislature, saying they against the proposal.

MLSTP's Rafael Branco: "It's all too opaque to be understood. Somebody in Govt must have thot there was money to be made under the table."
Says he doubts the move had anything to do with touted creation of Lusophone oil consortium for EEZ.

ADI's Patrice Trovoada: "The best way to assure transparency (in awards) is through auctions." Party "not minimally interested" in proposed alterations of legislation.

Branco, one of the unreplaced ANP directors sacked in December, also quoted as saying that the oil agency's decapitation and the current flap over the oil law will likely jeapordize the holding of EEZ auctions that were "expected by June".