ERHC Energy Inc (ERHE)

[gary3699]

what rumour is Sfreed referring to ?

from yahoo:
He seems to argue a point that Addax should buy ERHC to maximize net
revenues to it.

However, if you subscribe to the theory that Addax wants to find
(i.e. locate, prove up and show a buyer its there) as much oil as
possible and then sell out, does it matter whether Addax actually
produces from the JDZ or not. Actually producing oil is probably
further out on the curve than Addax wants to go in the JDZ - its a
much bigger project than their other easier properties.

What matters is proving fields and blocks contain lots and lots of
oil. Maximizing proven reserves to maximize a potential buyout price
is their goal.

Addax is showing that it wants to be top dog in the JDZ. Right now,
ERHC is number 2 - and is fully carried by Addax.

So, right now, Addax is paying for reserves that ERHC will book as
its own and get the benefit in any future valuation. That is not in
Addax's best interests.

The rumours have been heating up over the last few days on exactly
this...