ERHC Energy Inc (ERHE)

[balance_builder]

Remember NBL indicating they farmed in 15% on B-4's option interest????? I emailed NBL (about 3 times) to learn what they meant by this 15%. I received the response a minute ago. NOTE: 15% of ERHC's 25% option equals 3.75%. This leaves ERHC with a net 21.25% of Block 4. In other words, ERHC gave NBL 3.75% of their percentage in B-4 to be carried to first oil.

Most thought it would leave ERHC a mere 10% net of B-4. NOT!!!!! Offor only makes sweet deals. Does this point to where this co is going???????? This is far far far below industry standards.



My question:
Does the 15% represent 15% of Block 4 OR 15% of the option interest. The difference could be quite different. Thanks for any clarification you can give.

xxxx
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NBL's response just received:

"The 15% represents 15% of the option interest."