Replies to post #30135 on ERHC Energy Inc (ERHE)

[Art2004]

No, I think ERHC/Offor and the Nigerian officials brought Pioneer in.

Remember, PXD got parts of two other Nigerian deep ocean blocks at the same time it partnered with ERHC.

Then, Pioneer floated this offer for ERHC and a form of limitied partnership. Memon did write his shareholder letter about future aqusitions both in and outside of AFrica.

Those could have been with Pioneer.

Anyhow, Offor thought the price was way too low.

I do think US oil companies do underestimate Africans expertise at putting together oil deals. They like the Saudis do hire expert Western economists and oil people to advise them as consultants.

Gradually they do develop their own expertise, re. Dr. Daukoru.

[Meridian]

Memom did not bring in PXD and was removed before PXD made ERHC aware they would walk.