ERHC Energy Inc (ERHE)

[robjer]

what are the chances that companies are holding back from the $16M phase II committment in order to pressure for a price reduction?

Seems counter-intuitive, because if it only costs $16M for companies to squat on the rights for a while longer, why wouldn't these rich guys be paying up right now?

Makes me think the oil is not commercial enough even for a $16M risk.

c'mon they wouldn't even have to drill. If there is oil there $16M is a cheap option to hold it.

not very good sign to me that there hasn't already been a PII announcement