ERHC Energy Inc (ERHE)

[seek the light]

mt....The mistake many who bot ERHC's shares made, was to think that it would be built into a so called real oil company. The plan ALWAYS has been from the beginning to sell the company. SEO has turned down over the years, several { 3 to 5 } offers for the company. It would appear that he believes drilling will establish a value considerable above the bids he has refused. So he waits for further drilling, and we all know big companies do not move fast on their plans to exploit deep water assets as the cost is substantial.

Also there have REAL clue for years of the need do unitify the blocks with the first clue being CVX's effort to work out a deal between themselves and the participants in block 2 immediately after the drilling of OBO1. This means there is some kind of an important overlap between the two blocks in terms of geology that makes it necessary to have a development plan that involves both of the blocks. CVX was unable to get an agreement so XOM and CVX sold and left. I think SNP's asking for another 1 year is related to this need for joint development of these blocks,because SNP and TOTAL believe drilling two wells in block 1 { another on the OBO prospect and another on a different prospect } will give them valuable information on where to drill next in block two. Further i think Total will get these wells done late this year early next in time to go ahead with phase two in March next year on block 2 at the end extension period. Remember a year ago a "senior JDA official" { according to press report[s]} said TOTAL coming into the JDZ would cause a delay on the front end of the process, but would lead to production a couple of years earlier because of existing infrastructure.

Drilling in either 3 or 4 by Addax may happen earlier but these two may also need to be tied to joint development plans with each other or even prospects in south and southeast block 1.

All of this is my considered opinion, and now let the "boo birds" do their best to destroy the above.

Sorry this is so long, but being restricted causes me to try to fit all this in one post.