ERHC Energy Inc (ERHE)

[DegenerateGambler]

Krom, if your senario is true, why wouldn't the JDA give Sinopec the boot on Sept 15, 2010 instead of an extension? At that time the JDA had the opportunity to rid themselves of Sinopec using proper justification and Sinopec could do nothing about it unless they produced the drilling "results". IMO, Sinopec has had some form of the drilling results for quite some time, but very sketchy information. IMO, this entire "delay" tactic by Sinopec revolves around Total and Total providing more information about the JDZ by more wells in Block 1. If you are right, Sinopec wells were for show only (to meet the deadline) and did not provide adequate information for Sinopec to make a proper decision on going forward. So Sinopec needs more information and is hoping that Total will soon provide this by drilling in Block 1. Sinopec does not want to commit to Phase 2 until Total drills in Block 1, it is that simple. Therefore, let's get prepared for at least one more extension, if not 2 or 3. Or at least until Total drills block 1.

DeGen, and yes this all IMO.

Ps: Krom I sure hope everyone else here appreciates your thoughtful posts as much as I do.