ERHC Energy Inc (ERHE)

[vineseeker2]

Strass, I keep going back to the significance of the Deepwater contract. Originally they anounced they had the Deepwater for four wells with a option for four more. The JDZ contract requires the operator to drill a well or spend a number of million on block 2 and 3 by the middle of 2010. Block 4 has to have two wells drilled in the same time period. Addix contracted for four wells with a option for four more, thats one well in three and two in four, as required, and one to five extra. There has been no mention of the optional four wells in weeks. IMHO sombody wanted a certain number of test wells, maybe before making a offer or accepting a Offer price. Maybe initial drilling results were so good the extra four wells are not needed to set the deal. I never expected there would be a predrill deal, the chinese have plenty of money to spend, but they have to account to their government for how they spend it. If Senopec bought a pig in a poke and didn't get full value for the governments money, they might find themselves in charge of the anartic drilling division. JMHO.