ERHC Energy Inc (ERHE)

[ERHClongtimer]

Curious, thanks for your insight on the gas situation and the dependency on testing to determine an actual discovery.

I thought the same thing about the statement of "natural gas." Since biogenic and thermogenic gas are both "natural" (as I understand it), it seems to me that ERHC was just being less specific in its latest update.

Very noteworthy comments regarding reasons for the possible extension of Phase I. The consortiums do have to relinquish 25% of their concessions upon commencement of Phase II. Maybe they are not ready to do that.

I just wonder if the main reason an extension to Phase I is even on the table is to buy time for the disposition of the minority interests formerly held by defaulters and withdrawers to be resolved. Seems like it would be requisite to get that worked out before negotiations for Phase II could really proceed. If the extension was to do further analysis, I think we would have heard about a continuation of the Phase I extension already.

ERHC's acknowledgement about these negotiations going on and an announcement being "immenent" makes it sound like they are very close to resolution. I'm thinking the JMC is loathe to extending Phase I any further and would strongly prefer to have the clock begin ticking on Phase II, and will exert pressure on the consortiums to get their act together to commence Phase II ASAP.

I guess we will find out which way it goes... in a fortnight or two. - Longtimer