ERHC Energy Inc (ERHE)

[pinecat]

Snow, BB, good posts. Offor and Co wrote some very nice contracts with both Noble and Pioneer; 1) neither of them walked before Offor was ready, 2) there was wriggle-room to pull better partners out, and 3), there have been little negative comments coming from our previous partners, (so nothing too unexpected or nasty came about). I bet Exxon is telling Pioneer "I told you so". As for the stock price, remember, you and I are small-fry. There are big boys at XOM, Noble, Devon and Pioneer that may still be slowly selling and big boys at Addax and Sinopec buying. Its probable that our SP has largely been reflecting this dynamic in the last 6 months rather than the glaciatic progress of the JDZ or the AG report. Humble guess, but the deep pockets at Addax are tied up in their IPO and the deep pockets at Sinopec are not as savvy as XOM et al.
Yes, it appears that the JDZ has been waiting for Sinopec to come together, the AG report may have fed into this waiting game. However, the whole process really seems to be wrapped up at this point --it's interesting that the Sinopec deal was announced after Obasanjo and Menezes met followed by the JMC "budget meeting". I wonder why the second round was rushed just enough for Sinopec to come up with a bid in block 6 but not a full-blown take-out of block 4? (Answer: Offor).
We now need to figure out what Sinopec has in the area in terms of available drill ships.