ERHC Energy Inc (ERHE)

[balance_builder]

Stockguard.....I'm elated to see you are still around and watching/reading the board. Feel free to step in and add your words of wisdom.....as you see fit.

It is of my opinion that the JMC of 11-16-05 was ultimately important and should be viewed very positively by us ERHC'ers. Why? Removed PSC process schedules from the JDA website showed that the JMC meeting to ratify/approve draft PSC's were one of the LAST steps in the process. As I recall, the actual PSC signings were to take place approximately 2 weeks from the JMC's approval of the draft PSC's. Yes, this could have changed.....but if it remains similarly close, PSC's could be signed by the end of November.

Hmmmmm.....remember Marks 11-3-05 ***UPDATE***??? Here's a reminder:

****UPDATE JDA****
Just spoke with Sam Dimka. I asked him about PSC Signings for next week. He said that PSC's wil not be signed next week but will definitley be signed in November. He also said that Chevron will be drilling in BLK 1 in January.
http://www.investorshub.com/boards/read_msg.asp?message_id=8349595

Why is this significant??? First, if timeperiods in the process remain close to the same, 2 weeks from the JMC's approval of draft PSC's puts the actual signing date at 11-30-05!!!!! One more step of this making sense:

Remember this line from the "This Day" article?

"Winners of the five oil blocs allocated in the 2004 bid rounds are scheduled to make payment of signature bonus amounting to $283m by December 2005."
http://www.investorshub.com/boards/read_msg.asp?message_id=8531195

On ALL accounts, signature bonuses are due 30 days following the singing of PSC's. With the signing of PSC's at or near the end of this month (as Sam Dimka reported), it would logically conclude that signature bonues would be paid in December as the article states. Yes, the article does point out that signings are to occur by mid next month.....but signing at the end of this month would still meet this.

The JDA has strived (IMHO) to get the signature bonus monies in their hands by the end of 2005.

We "could" be closer than most think here. Yes, "its only a possibility" but one that can't go unviewed IMHO.

The draft PSC is basically identical to the PSC that will be officially signed giving exploration rights to the participating oil co's for years to come. i.e. one of the last steps of the process. Once approved by the JMC, it pretty much leaves only the formal signing process ahead.


Stockguard, IYO, will the market begin to recognize ERHC's value once they have legal access (i.e. signed PSC's) to explore these suspected prolific blocks?

P.S. Again, great to see you still attached here.