ERHC Energy Inc (ERHE)

[ERHClongtimer]

Ever considered that perhaps one of the motivating factors for setting up the JDZ was to have a lucrative special interest zone in which Nigerian and STP players could profit? It's my belief that there are more Nigerian/STP figures involved with ERHE than just SEO. A guest, if he knows what's good for him, doesn't mistreat the family pet. Just IMHO. - Longtimer


"A major stumbling block was the STP-Nigeria boundary where some of the richest oil fields are suspected. Former President Miguel Trovoada confirmed to us that STP originally wanted to divide the maritime boundary between STP and Nigeria according to the so-called rule based on ‘equidistance lines’ but Nigeria argued in favour of the ‘proportionality principle’ which would have given Nigeria a much bigger share of the offshore acreage. According to Trovoada, STP ‘didn’t have time or money for litigation’ so a compromise agreement was struck during the visit of Nigeria’s President Obasanjo to São Tomé in August 2000. Trovoada stated that the basis of the agreement in Nigeria’s favour was worked out between him and Obasanjo while the finer details were worked out by the STP government and the Nigerians. Instead of delineating a boundary between the two countries, Trovoada and Obasanjo agreed to establish a Joint Development Zone (JDZ) to be jointly administered by the two countries, with oil revenues being split 60:40 in Nigeria’s favour." - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=45764858