ERHC Energy Inc (ERHE)

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NG News: 17/03/2011 - Shell Nigeria sale hits wall (Africa Oil and Gas) - 48 (aog v14-06 17march-text____0019)
The only deal that seems certain to go through is for OML 40. Originally it appeared that this featured the one certain winner in the bidding process with Vertex putting in a US $200m bid. The company is made up of a dozen former senior NNPC officials bac ...
But Shell is now talking to Eland Oil & Gas headed by former Addax top management, backed by ERHC and in an alliance with highly influential Starcrest Energy. There are also accusations that the award process has not followed the exact procedure promised by Shell, with claims that some selected bidders were allowed to increase their offers and even that some do not have the funding in place as required under th ...