ERHC Energy Inc (ERHE)

[tryoty]

Maybe... in a kinda sorta way.

The company clearly stated that it's current West African assets would not be affected by the subsidiary.

It depends on what their definition of the word "asset" is. They have enough wiggle room, IMO, to get away with saying 5, 6, and 9 are not assets without PSC's and transfering them to a sub. It sounds like a decent plan to me. They can pay their own way and not give up percentages for carries.

The net result, of course, is that the overall value of the asset to us as ERHE shareholders would be diluted by whatever percentage of the subsidiary they needed to sell to market to raise drilling capital. IMO that's a small price to pay to retain full allotment and pay our own way to boot... and I see it as the IDEAL way to address the EEZ.