Likely a buyout or merger would be a share swap. A value will then be calculated by the split of the shares. I like this arrangement b/c it gives ERHC upside. If it's 5 bucks and upside, I may trim a little, but not much. I will be holding in the 3 buck range. Why ?? ..... because then the pps should gain considerably on favorable drill results, and THEN, there will be a substantial premium if our suitor gets taken out by a supermajor. Will SEO get his figure on all this ?? I think he gets close to it. So, no, my shares aren't tendered under 5 bucks. One dollar ?? Forgetaboutit !!
The JDZ is going to be one of the hottest commodities this summer. No way Addax is tight holing. If we hit the jackpot, it will be shouted to the media. Addax wants to sell and retire, and it's to their advantage to show and promote their best hand.
Will the archipelago and Nigeria try to squeeze the operators if the mother lode is proven ?? Forgetaboutit !! The JDA is autonomous. Neither the pinprick nor Nigeria have any standing changing the game. Besides, there is big power in the Nigerian ERHC shareholders.
So, it's all good. Sit back an relax and enjoy the game. We are very good in this space, and time is on our side.
JMO
Red
