ERHC Energy Inc (ERHE)

[Strategyone]

Now where did I say I wanted to high five with him even if he did get a better deal. I would personally benefit the sooner a deal gets done regardless the cost of that deal. I have an exit strategy that will divest over time at certain price points. With that strategy, the sooner the price points hit the sooner I will have access to the same amount of cash. I am well versed in the time value of money.

I am just not ready to throw Grandur under the bus for my failed expectations over the timing of oil reserves proven.

ERHE is in partnership with Addax. That is both good and bad.

The bad is that had we partnered with a different major, they might not have blown the original ROO. I do hold that against Addax but I don't have all the info so I am not selling due to it.

The good is that Addax is young and hungry which aligns with my hopes for earliest development of the fields. If ERHE had partnered with the Chevrons or Exxon’s out there, think of how long it might take to bring the different fields to market. Look how fast Chevron is going with their drilling program on Block 1 and they had a two year head start. Chevron has no excuse on rig availability yet the whole world is their sandbox so they may sit on the JDZ toy until they want to develop it.

High fives, hardly but he doesn't deserve the bus wheels yet either, IMHO.

I'll just be happy when we are having these same discussions over the ROO for the EEZ blocks and the price is stuck at $30.....

Have a great weekend all.