ERHC Energy Inc (ERHE)

[moediggity]

Remember What China Stated Back in November 2009:

"China’s Growing Thirst For African Oil"

http://www.energytribune.com/articles.cfm?aid=2546&idli=3

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"China has dangled a near open cheque book to Africa's major oil producers in a bid to guarantee supplies for decades to come.


It has offered 30 billion dollars to Nigeria and is negotiating for stakes in oil fields in Ghana and Angola and companies that exploit the fields throughout Africa...

...Industry sources say the companies are looking at investing around 23 billion dollars (15.6 billion euros) in Nigeria over the next five years.


But through its state-run China National Offshore Oil Corporation (CNOOC), Beijing is dangling the prospect of 30 billion dollars for a guaranteed six billion barrels of Nigerian oil....

Chinese firm SINOPEC recently bought the Canadian oil firm Addax which operates in Nigeria and west Africa, for a mere five billion euros.


CNOOC and Sinopec said in July they have agreed to buy a 20 percent stake in an offshore oil block in Angola from US oil company Marathon Oil Corp.


"The strength of the Chinese is that they are ready to put lots of cash on the table," said a senior executive in Africa with one international oil firm on condition of anonymity.


"So they want to come and work here, there is no problem, there is room for everyone, but not on blocks that are not free," said the oil chief.
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We've waited this long and, finally, appear to be on the cusp of realizing REAL value.

"If you build it, they will come"

Moe Diggity