ERHC Energy Inc (ERHE)

[Pepsiman2001]

BSK penned an excellent post several months ago on this subject. The jist of her summary was that the drilling plans had been submitted and approved more than a year in advance of the purchase of Addax. Not only approved by the JDA but also by the minority block partners. It would have left SNP via Addax vulnerable to lawsuits by the minority partners who had already budgeted specific costs to the drilling program. That along with the delays that would have been incurred trying to get a new drilling program approved made the scenario of a new drilling program ala deeper pockets (SNP) next to impossible. Hope this helps.