Yes but does HDY have both onshore and offshore properties? Does it have both East and West Africa.
Seems that while they may have an excellent partner with Tullow, they don't have nearly the same diversification as ERHE does. If they miss again, while drilling essentially in the same region...they're toast.
On the other hand, ERHE has so many blocks that with each penny of ERHE's share price you get at least one block if not two.
ERHE's blocks are well diversified, substantially reducing investment risk in my opinion. ERHE has essentially become a portfolio of a bunch of different HDY's but all within one company placed neatly into one stock.
If HDY soared to $7 on the prospect of a partner even before oil...what will happen if more than one of ERHE's portfolio of properties lands a partner even before a drop of oil?
I see the potential for a succession of partners...a partner in Kenya produces the money to partner up in Chad and in the EEZ.
Plus if the partner happens to be SNP or Total in Kenya...then doesn't that lessen the friction for ERHE to partner with these same companies in its other portfolio of assets more easily?
Just the prospect of all of that could have ERHE going far north of HDY's market cap height or even that of Africa Oil's.
What is the probability of all of this happening? Well given that one seems to hinge on the other...all it would take is for the first domino to fall...in my opinion.
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