ERHC Energy Inc (ERHE)

[oiljunior3]

I don't believe SINOPEC cares what ERHE's share price is. They bought Addax's expertise at deepwater drilling and they want oil at any price, why would they cancel the deepwater pathfinder, after waiting three years for the POS Aban. They want oil now, and Block 4 must be drilled before Mar 2010 or pay JDA penalties and risk losing the block. SINOPEC has plenty of time to buy out ERHE before oil flows from developed fields. Now that Addax will not be buying us out, the only pop in price we get to look forward to is booking reserves. The only reason Sinopec may want to buy us out now, is to get us cheap before they book us some reserves. With each successful well, Offor's price goes higher. So there is still a wild card in play.

IMHO

Oiljunior.