There is no logical reason to think that Sinopec is trying to screw us. Sinopec came to our rescue when no one else would. Sinopec spent millions and millions while we got a free ride. Sinopec has not given up on the JDZ yet because they want to see if there is any new information or possibilities that arise after the Total drillings IMHO. And I would guess that SNP wants a good ending to this as much as anyone.
I would agree that ERHE should have used some of the millions they recieved to diversify in assets before now but they were probably convinced of oil finds coming and a sp that would reflect that. Maybe they played cash defense too long. Maybe they made some bonehead moves. And when they learned that drilling had not been as successful as they hoped they paniced and knew that it was time to move. Maybe getting a partner and up front cash from the EEZ was not as easy as once thought. Maybe if they had focused on new assets long ago we would not be worried about survival now.
It is not Sinopecs concern whether ERHE survives...or not. They run their company...ERHC management runs ours. Hindsite is always 20/20 and that was then. Now PN seems to be focused on new assets and just handed one up to us. Since they know that it is critical that current moves be good moves I would guess that they are. Until I see that they are not I will tend to give PN the benefit of the doubt. And I will give him some time to let us know the details.
I understand that you expected this to pan out long before now but it is what it is. It's just something we have to deal with. I do think they are trying...and making progress. Hang in there.
Market Data 
Markets 
AI
