ERHC Energy Inc (ERHE)

[balance_builder]

Stockhocker.....this is what Barry said in his 11-5-05 article referencing the reason for NBL's withdrawl:

"The JDA also awarded junior equity to Nigerian independent Godsonic but Noble's initial due diligence failed to reveal the full range of beneficial interests."

I did a little search on Godsonic Gas and Oil and found this link:

http://www.nigeriansinamerica.com/articles/724/1/The-War-against-Corruption:-Obasanjo&%2339%3Bs-...!
"The list of companies also involved in these deals includes Godsonic Oil and Gas, Tap Oil, and Owel E&P; all companies linked to Anthony Annenih, the Chairman of the Board of Trustees of the PDP."

Very political.

Our 8K filed on the subject states in part:

http://biz.yahoo.com/e/051031/erhe.ob8-k.html
"The Company was informed by the JDA on October 26, 2005 that it was sorry that the Noble/ERHC consortium was unable to accept the award of Block 4."

That tells me that NBL probably had no problems with ERHC. Instead, they didn't announce their withdraw (non-acceptance of awards) until ERHC found a new partner to form a consortium. In other words, they took care of ERHC in that aspect after they determined they wouldn't be a player. Had NBL had a problem with ERHC I doubt they would have waited for ERHC to regroup and having the block rebid.