ERHC Energy Inc (ERHE)

[vineseeker2]

longtimer, I interpited it differently. CIOC has 100% ownership of the block, Chad kept a 30% royalty ownership of any oil. If CIOC had to relinquish 50% of the blocks acreage, they might have given up 50% of everything but kept operatorship. That way they still control who gets to buy the oil, ERHC gets to pay for 50% of the continued development & gets 50% of the money from production. CIOC gets to strech their development/production funds - Tiwan has no oil or very little and has to import all they use, like mainland china they need oil.
They might be interested in the EEZ or being the operator in our other two Chad blocks & willing to pay with 1/2 a producing well, JMHO