ERHC Energy Inc (ERHE)

[ERHClongtimer]

Krom, previously, I said the following:

"There is 0% chance that CPC would give 50% interest to a company like ERHC, leaving them 20%, for any reason. CPC does not need a partner (remora) like ERHC in their block. Maybe they would farm out a portion to a partner with deep pockets to help with development costs, but there has been no indication from CPC that that is in the cards." (Post 243756)

But your post and posts by others, plus the latest news release from ERHC, has got me to thinking about ERHC's stated 50% interest in Chari Ouest Block 3 (which seemingly includes the whole block).

Perhaps your Formula 2 is the answer. Maybe ERHC did some horse trading with CPC for interests in either the JDZ or the EEZ. However, I still cannot imagine CPC gaving up 50% of its interest in Chari Ouest, leaving it with a meager 20%. SHT had 30%; did it contribute some of its interest? Not likely. So if CPC did hand over 50%, ERHC must have really made a sweetheart deal with CPC.

Maybe this is ERHC's short path to producing assets. It is interesting that CPC has been mum about its Benoy-1 discovery since March.

However, my confidence in the reality of this scenario is very low, given the meager details disclosed so far. I am sure ERHC disclosed as many details as they could at the time. No doubt more details will be forthcoming as soon as they can release them.

In any case, I take heart in these words of Peter during the chat:

"With the reserves, an exciting new portfolio of assets, better prospects and a definite opportunity to grow the company, we are much better placed now than we ever were before toward an ERHC future"

So something good, whatever it is, must be coming down the pike. - Longtimer