ERHC Energy Inc (ERHE)

[Ellington]

are these Nigerian indies incapable, so that STP is right to think that they will not provide the service? Or does STP perceive that the Nigerian firms will skim money away from the joint venture?

If STP could be sure of the competence and honesty of any firm that received the prize, you'd think (and isn't it true?) that the decisions would not matter to their bottom line, aside from the signature bonus question.

If the complaint in block 4 is about signature dollars, let Nigeria pay the difference to STP in return for an increased percentage of oil revenue assigned to Nigeria through the end of 1997. Menendez gets the added, quick dollars (and a better shot at re-election); Nigeria gets the additional dollars over time (or so the bet goes); while both get the benefit of the additional drilling.

I also wonder how a religious difference affects the scene. In a more-or-less Catholic country, Patrice T is a convert to Islam.