ERHC Energy Inc (ERHE)

[BuffaloTrader]

Based on what I've read and heard, ERHC would have violated the terms of its carry with Addax/SNP and the terms of its agreement with the JDA if it had disclosed drilling results without their authorization, which could have made the company liable for about $60MM in drilling costs (which would have bankrupted the company) and would have jeopardized its rights in the JDZ. Reality is not as black and white as you suggest. All IMO.