ERHC Energy Inc (ERHE)

[Spec29]

Addax would still need to force/convince ERHC...

to disolve their interest in the JDZ.

Get a ROO now and you're looking at paying a much higher price for ERHC assets in the JDZ.

Stalling the acquisition of a rig just keeps driving ERHC's share price down. I think it's a delay tactic.

We all say ERHC has the funds to take us to drilling. Addax is saying, "prove it."

Addax's problem is they have to drill by March 2010 or pay the liquidated damages. It's a race to the finish line.