ERHC Energy Inc (ERHE)

[Strategyone]

Impressive recovery today.

Seeing that JS sold all his shares today at the open and at the low of the day, followed by a recovery 20% higher than his sell, kind of brings balance back to the world huh?

Seriously, I wish no harm or misfortune on JS but I was not impressed with some of his blogging opinions as of late and maybe now people that read his blog can give the same credibility to his predictions as to his recent trading record. Just stick to the facts and sometimes the blog provides good information.

Back to the topic, ERHE. As ironic as it may sound, this additional fortnight delay may put ERHE in a better position when the PSC's finally get signed. By 3/14 the JMC/JDA may be in a more comfortable position to buy off on Sinopec for block 2 and we also may here more news from the Block 1/Block 2 straddled discovery. We may hear rumblings of more meetings with Chevron (which I think will have to happen since any straddled discovery requires the agreement or working arrangement between the two block operators). So, regardless of whether Chevron is trying to outbid Sinopec to operate Block 2 with ERHE or not, EHRE is in a position to benefit from whatever terms come out. Imagine the headlines when ERHE is in PR's from both Chevron and Sinopec.

I am still hoping for the Sinopec deal to go through because I think the Chinese will pay way too much in comparison for the access to this oil.

Good Luck to ERHE longs,

Strategyone