ERHC Energy Inc (ERHE)

[balance_builder]

Please refer to "speculation" portion of post I am replying to.

The below excerpt from MPE:
"They include oilfield projects in Syria, Sudan and West Africa, de Cadet told Reuters in Dubai.

"One of our main strategic objectives is to co-invest in these fields with operating companies that have a lot of expertise to identify assets and to invest," de Cadet said.
http://www.upstreamonline.com/live/article122854.ece


The below excerpt from Upstream:
An unidentified US oil player is said to be among an assortment of investors trying to enter the Nigeria & Sao Tome Joint Development Zone in the Gulf of Guinea by acquiring the shares of Emeka Offor, the Nigerian chairman of Colorado-registered ERHC Energy, writes Barry Morgan.
ERHC holds substantial equity in the play, including preferential rights to blocks 2, 3 and 4 alongside operators Sinopec, Anadarko and Addax Petroleum.

The financial manoeuvre is being undertaken through the Dubai-based Millennium Finance Corporation, where former ERHC chief executive Walter Brandhuber is now fund manager with a brief to build up the energy portfolio."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=15566437


Jim Ledbetter spoke in August of taking non-operating minority stakes in properties with reputable oil industry player.

Next ERHC presents in Dubai.

Next, Jim Ledbetter makes the following comments (see underlined):

DD'ing properties in West Africa and North America. Looking at transparency, regulations and reserves. Have an professional unit looking at and determinining reserves. Will only buy/announce AFTER all three (transparency, regulations and reserves) show property to be of high quality. Could partner with reputable industry player in non operating minority stake. Property would have to be revenue producing or close to revenue producing.


Transparency??? A must for a Nigerian dominated company BEFORE assets can be purchased?

MFC grows (see underlined for emphasis)

"“We are fortunate to become associated with a leading provider of Sharia-compliant financial services in the region and anticipate a very active product offering by our newly acquired associated company. KIPCO’s investment in MFC reflects the rapid development and breadth of business the company has established in a short period of time. With its regional experience in financial services, media and technology, KIPCO will support MFC in its expansion plans across the Middle East, Africa and Asia.”
http://www.ugbbh.com/2008-03-31E.htm


Look up "Sharia-compliant" and you will see how important "transparency" is with this Islamic trait. And ERHC has state (as mentioned above) that they can't make an acquisition UNTIL transparency issues are clear.


In a nutshell.....Islamic bank invests....alongside operating co's that have alot of expertise. Who might that be?


I again refer to ERHC's James Ledbetter who told us one of the properties they are DD'ing is in North America. That sure sounds like a US oil company to this invester. Apparently it did to Barry Morgan also as he specifically stated (see above), " An unidentified US oil player"

So, I again reference you to the "speculation" portion of the post I am in reply to. Just dots....nothing more than dots.