ERHC Energy Inc (ERHE)

[DegenerateGambler]

First on the ROO, although there have been MANY false alarms is the past, JCG had previously announced he would be going back "to the table" in February to see if the rig owners would "accept" his low ball offer(s). Well, everything I have read indicates the rig owners are not dropping their price dramatically and JCG may realize this by now. JCG may also realize the AA will not meet the time deadline for the JDZ. Maybe JCG finally realizes he does not hold the best hand and needs to buy more chips to get back in the game. Time is not on his side and he must realize that. Is risking the enforcement of the JDZ penalty clause worth the risk of saving some money by waiting out the rig owners? I think not, and I think JCG has realized that and has begun negotiations on a ROO and Peter heard this through the grape vine. However, we all know how good JCG is at letting a deal fall through. He has a proven track record of letting ROOs fall through and until he actually completes a ROO deal, I have my doubts. Like Strass, I will believe it, when I see it announced in a PR by Addax. Until then I continue to wait and hope JCG gets the process going and does not try to play hardball (or play poker without a large enough stake).