Well that was a good shaking of the weaker hands.
A lot of whiners out there today. With a little intelligent or logical thought, it is all for not.
First, there are a few people who are stating outright how bad a deal this is…..? Really? Are you serious? NO terms were disclosed on even a potential deal therefore, how do you know? It is simply a MOU that they are talking seriously. Save your arm chair quarterbacking until you get some terms to evaluate.
I am not jumping up and down for ERHE to do something like this but with SEO's history in making deals and the fact it is in his back yard, I seriously doubt he would be making a deal that turned out poor financially for his 300+ million shares… I’ll give a little latitude until I can see some terms. Just think of some of your responses if SEO turned up behind a potential deal like this and it didn’t involve EHRE. There would be another crowd yelling why not us?? Too funny.
Bottom line is the OIL in the JDZ (and later in the EEZ). The value of ERHE share price will be reflected when full details are disclosed.
At a minimum, I take this as good news as some others have pointed out. If we weren’t getting close to knowing what is in the JDZ, this type of deal would not be worth pursuing yet.
I still fully expect news of drilling results in the 4th Quarter (down to 5 weeks left) as they have PR’d. Hopefully, this news will include details such as pay zone size, pressure etc and maybe even the next steps needed to move towards production. All we really need is one word…COMMERCIAL!
Think of it this way. With a PR in the 4th quarter of commercial quantities of oil hit and with the NSAI numbers, maybe ERHE needs a small well in production to book it’s overall assets on the balance sheet from the NSAI numbers and thus allow a company like SINOPEC to justify a purchase price of $8 Billion dollars….. Oooh, maybe the dot connectors can run with this one for a while….
One day closer to knowing about the OIL!
