ERHC Energy Inc (ERHE)

[TheDane]

Balance...

If the CVX field is truly straddling the line between Blocks 1 & 2 and,

If it is a 2 BB field, half of which (or some close measure to half) belongs to the owners of block 2, and

If the PSCs get signed without further hair-pulling,

ERHC is truly in the catbird seat, regardless of the value placed on this field of oil.

I'm a little leary about some of the numbers being bandied about, however. It makes no sense that CVX, XOM or any other major could have bid on these blocks and had the oil in ALL 9 blocks for less than 1 billion, but now will have to pay ERHC (pick a number between $3-10 Billion) to get just a portion of Block 2. That's just not logical, nor do I see the STPers, who have left no stone unturned to derail ERHCs rights, sitting idly by while CVX hands $5 Billion to ERHC for a portion of block 2 after paying just $123 million for all of block 1?

BWTFDIK? I'm sure someone will let me know where my logic fails. TIA