ERHC Energy Inc (ERHE)

[oilman57]

IMO This is the quote from the Lusa report which is creating the controversy:

"On Friday, Radio RDP Africa reported that there had been a rejection of the bidders with the best proposals, in favor of oil companies that have some Sao Tomese citizens as shareholders."

So Radio RDP Africa, who probably has no knowledge of the oil business, reported that the bidders with the best proposals were rejected.

Obviously they are only looking at the signature bonuses that were offered and not the fast tracking and technical capabilities of the bidding companies.

"Arlindo de Carvalho denied any political favoritism, trying to stress that "we have not rejected anybody; we have distributed the blocks" as a function of the financial proposals and technical capacities of the companies."

So here an official from Sao Tome tries to explain the parameters that were looked at. Once awards are actually announced the governments of both countries will be better able to explain their decision making process. All IMO