ERHC Energy Inc (ERHE)

[balance_builder]

AC....While this isn't exactly verification.....

"At this point in the call the discussion shifts back to Foby Engineering and Momo Petroleum defaulting last year. Apparently EEL is picking up each company's 5% for an added 10% of block 2, but that isn't finalized yet. A good question for ERHC's meeting would be "how is the partner picking up a defaulting partners percentages in block 2 determined?"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49340085&txt2find=foby|engineering


ERHC's IR told me this when I inquired about it in April of this year.

"At this time, though they have defaulted, both Momo and Foby officially continue to be listed as interest holders in Block 2. Since analysis of the information gathered during drilling is continuing, we expect to gain a better understanding of the costs/benefits related to expanding ERHC’s interests in the Block. As the process moves forward, ERHC will make a decision that it considers in the best interest of enhancing shareholder value."


Perhaps SPP119 can chime in since the report was generated from EEL.