ERHC Energy Inc (ERHE)

[Art2004]

emydal, "these litle chinamen" are not little. Sinopec has stock listings on 10 different exchanges around the world with the major ones in Hong Kong and Shanghai.

The total market cap of these listings is probably over $140 billion.

What do you think discovering and announcing good oil in Blocks 2 and 4 would do for Sinopec SPs and market cap.

It would probably be worth many hundreds of million dollars, perhaps even billions of dollars.

What do you think the signature bonuses will be on the EEZ blocks which are smaller and in much deeper ocean than the JDZ blocks?

Perhaps $100 million and if projections got more optimisitc because of JDZ oil discoveries, maybe $200 million.

You are posting that to save a couple of a hundred million dollars on EEZ bids, Sinopec could give up billions of dollars in share price/market cap appreciation?

Even for chinamen, that does not sound like a good financial strategy.

Perhaps Sinopec and Addax will announce oil discoveries in the JDZ to up Sinopec's share price and to demonstrate that they made a good investment when they paid over $7 billion for Addax.

Some points to consider.

PS As Mark G. has posted, the JDA will probably promptly announce oil discoveries in the JDZ blocks.