ERHC Energy Inc (ERHE)

[ERHClongtimer]

Hi all, still holding strong; been very busy. Nice to see the latest press release from ERHC. Sounds like this venture in Chad is much closer to bearing results than Eremor is/was.

Looks like the former Chari-Ouest block holder overextended itself, not to mention its shady past and an ill-advised loan:

Energem goes into bankruptcy without telling shareholders

FirstAfrica Oil, of which Energem once owned partial interest, had an option to buy the rights to Energem's Chari-Ouest block, but bowed out (it was going to cost them millions to take over the block after reimbursing Energem for the money it had sunk into the block). Cash-strapped FirstAfrica Oil was eventually bought out by BowLeven.

Energem acquired the Chari-Ouest block due to the forced relinquishment by major oil companies under the terms of license provisions. The permit areas were returned to the Chad authorities and subsequently awarded to Energem after a competitive tender and negotiation process. So this explains why Exxon gave up the license area; they were forced to.

Looks like the pipeline for export is all in place:


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Looking forward to what more is revealed during the upcoming chat session. - Longtimer