ERHC Energy Inc (ERHE)

[Strategyone]

Just to be super duper clear here:::::::

this "price" you are referring to is the FUTURE costs to developement. There is NO up front buyin cost IF a player defaulted. Original signiture payments were paid at the PSC aggreement time or they already would have defaulted before drilling (and expenses) started.

I would bet that one of the reasons this has taken so long is the smaller players attempting to recoup their signiture costs and/or drilling expenses to date like XOM did in block 1. If Sinopec waited long enough, the companies defaulted instead. That alone puts ERHE in an eviable spot for a minnow oil company.