ERHC Energy Inc (ERHE)

[Nodak]

I agree with you on all accounts. I have worked on the platform that is flaring 60,000 MCF/day and the noise was deafening. The ambient temp was approx. 90 deg, but due to the flare probably 110 deg on the rig. Not to mention the waste of resources and pollution.

You can literally look accross the water and see rigs in three countries (Nigeria, Cameroon, & Equatorial Guinea).

I have recently been reading material on farm-outs and would conclude that ERHC's deal is pretty good. Close to par for course but probably sweetened a little bit due to the political influence of Offer.

I would not say it is the best deal ever in the history or deepwater drilling (as is being portrayed by some). For one I do not know what is meant by carried until first oil. Does that mean until discovery or until production? Do we then pay half or all costs for the consortium or do we pay ~22% which is our split of the percentages owned by the consortium? I really can't wait until we get the full description of the deal.

Nodak