JDZ Nigeria-Sao Tome e Principe

[DegenerateGambler]

Some random thoughts about the possible Addax / ERHC deal.

Time is on ERHC's side. The more time goes by, the closer we are to drilling. Once drilling occurs the more information we will have on the value of our assets. Why should we be in any hurry to sell out now when in a few months we will have a better feel for what we are worth. Why is Addax in a hurry to get a deal closed before drilling? Is that for their benefit or ours. Addax holds or has all the knowledge of the studies they conducted on the JDZ. What do we have? Does anyone want to make a deal knowing vertially nothing while the company making the offer knows everything? Does this sound fair? Why would anyone here be in a hurry to deal with someone who holds all the cards while we have yet to even see the cards we have been dealth. I like to see my cards before I decide whether to play in a hand. Playing blind is only for fools or suckers. I don't think anyone here is a fool and no one wants to be played for a sucker.

So why would anyone be in hurry to sell now before drilling? Time is on OUR side. Now patience is a virtue and this time patience will be rewarded.

I continue to predict 40 cents by end of week.