ERHC Energy Inc (ERHE)

[DegenerateGambler]

Addax is the logical "buyer" of ERHC and/or EEL as both smaller companies have oil interests in the JDZ or the GOG. It would make sense for Addax to own or control a bigger share of what they already have a big piece of. The big problem with any merger or buy out is price. What SEO thinks ERHC is worth may differ greatly from what JCG is willing to pay or at least what he feels could be sold to the Addax shareholders/BOD. The ten dollar figure tossed around by Bovell may be considered absurd by JCG. But like any negotiations, it is always possible for the buyer and seller to get together no matter how far apart they start out. JCG knows more about the drilling results from Block 1 then SEO in all likelihood, but SEO is not going in blind. The longer JCG waits (and he appears to like to wait things out) the more SEO will know about how much oil is down there as drilling transpires. Again, the waiting by JCG again appears to hurt him and benefit SEO. I like any share offer over $2.