ERHC Energy Inc (ERHE)

[Homeport]

Thanks to Doug C for the repost of EEL SPP's sober reflection on recent developments with Petrobrás in Brazil and their possible implications for us in STP's EEZ.

Have seen nothing further, since my Sept. 8 post, on expected STP parliament action on pre-EEZ auction legislation. But news should come soon and I have me ears to the ground. The new 3-party govt has a majority in the legislature so the 3 bills should be approved without problem.

While the content of the bills hasn't leaked out, both PM Branco's MLSTP and Trovoada's opposition ADI opposed Pres Menezes' attempts late last year to alter legislation to allow direct negotiations with select oil operators in special circumstances - preferentially with Petrobrás, it appeared.

Has anything changed since then? I don't know. But will let the board know as soon as I do.

Bests,
HP