ERHC Energy Inc (ERHE)

[umbra]

'bay' - thank you for your post. Like 'tamtam', I think your logic is very sound and I too am puzzled with the possible hidden symbolism behind this September Phase II announcement. At this juncture, SNP seemingly has little, if any, interest in the EEZ.(to the best of my knowledge). If they were publically "courting" a position there by being active in the auctions, I could certainly understand their conscious hesitance in publishing a positive face on JDZ drilling results thus keeping auction bidding to a minimum. And yet, as you and others have clearly stated, if the JDZ Phase I results were abysmal, what advantage comes from a 6-month moratorium on announcing same? None that seems apparent to me. So why six months? Required time to do further analysis before making a decision to go forward with a minimal Phase II requirement? I think not. Required time to do something beyond the minimum requirement? I think so. Our imaginations/desires could have us turn that "something beyond" into a magnificent series of gyrations that would send the SP soaring. Nice but unlikely. Logic would reign all this in by suggesting that perhaps Phase I results were less than stellar disallowing "stand-alone commerciality" in any of Blocks 2 - 4. But to maximize any commercial potential, Phase II exploration required the development of an infrastructure - an exercise that would most definitely require a time extension. Makes sense to me. If true, the mechanics of that exercise would no doubt be quite complex re partners/equipment/finances, etc. Hopefully all this will become much more clear in the near term. I would love to hear others weigh in on this subject - especially folks like 'bsk', etc.

Cheers.

E.