ERHC Energy Inc (ERHE)

[DegenerateGambler]

As far as ERHC getting partners for the EEZ, it is difficult for future partners to put a price tag on the value of ERHC Blocks until the actual auction for the other blocks occur and the STP determines the required signing bonuses for each block. Until the signing bonus is known for the other blocks, the "value" that ERHC has with the free signing bonus in Blocks 4 and 11 is not known. Why would someone pay ERHC a huge amount of money for some of their rights in Block 4 & 11 when in a few months they could pay a much smaller amount for the signing bonus directly from STP for the other EEZ blocks. Does anyone have any idea when STP will announce the cost of the signing bonuses? Will it be this March when they announce the auction? Hopefully, the signing bonuses will not be that small, because if they are it will diminish the value of Blocks 4 and 11.

Last week I posted a possible partner scenario, but received no comments on it and only a couple of other posters posted their idea on partnerships. Here is my thoughts again:

With the "official" news out that ERHC has the rights to 100 % of blocks 4 & 11 of the EEZ at no costs I would had thought the guestimates of the deals to be had would be flying all over the place. What kind of cash for what % will ERHC get? Will ERHC get a free carry again? Who will be their partner(s)? Will ERHC try to get more than one partner in each block?

How about Blk 4 - 33% Senogal Cos, 33% Big American Oil Co (either one the operator) 34% ERHC (free carry paid equally by our partners. Plus a $20 mil paid upfront to ERHC by each partner.

Blk 11 same breakdown with two different companies, a Chinese Co and a big European company (Shell, BP, Total, etc) .

What do YOU think?