ERHC Energy Inc (ERHE)

[oilman57]

ERHC has the following rights in the Sao Tome EEZ which is seperate from the current rights they hold in the JDZ:

100% block 4th selection (this is signature bonus free)

100% block 5th selection (this is signature bonus free)

plus two 15% blocks

I believe it is EEL who has the first two selections in the Sao Tome EEZ so ERHE has to wait for them to select their two blocks. Then the 3rd choice goes to the govt of Sao Tome. And the 4th and 5th selections go to ERHE. (Kind of like the NFL draft).

The president of Sao Tome said in a february article that they hope to start the Sao Tome EEZ bidding process this year. So the bidding process would occur after EEL and ERHE make their selections. That is why many are assuming that ERHE will make their selections this year. In addition, I believe EEL has already acquired 3D data so they are already proceeding ahead.