ERHC Energy Inc (ERHE)

[TheDane]

Strategyone...this is an excellent post and explains the reason behind some of the shenanigans. Obviously STP wants to allow operators who are going to pump oil ASAP since they have no other means of revenuse (excluding 1-900-ILOVEYOU). Nigeria is not in the same situation. That's why STP would NOT want XOM or Chevron necessarily operating more than one or two blocks since they have no urgency to drill and pump the oil. I think it's also why it's taken one year plus to get them actually drilling in Block 1. And, it's probably why ERHC has trouble since by themselves they are not an oil development company capable of pumping anything. bring in Addax for Block 4, bring in sinopec for block 2 and you have yourself some diversity.

What a story, eRHC