Replies to post #44090 on ERHC Energy Inc (ERHE)

[littleBitmoore1]

Agreed, Platina. Addax' willingness to take a bigger stake bodes well for Erhe, IMO.
There's oil down there and lots of it!

lbm1

[stockhocker]

Absolutely agree. But, I just think that the likely scenario would be for the capable party to pickup the extra percentages, if they wanted them. I don't know offhand what Conoil's percentage is, but if that percentage goes out on a pro rata basis to all remaining interests, Addax would likely be on the hook for most, if not all, of the added costs (on carry), without the full benefit. If I were Addax, I'd argue that only the non-free loaders can pickup the extra.

[balance_builder]

Platina....as I wade thru todays posts I find the urge to respond to this one. Great post. Bottom line: Addax wants more of what they believe to be in the block.

In reference to Overt bailing.....if Meridian was correct (and I have no reason to doubt his comment) and Overt couldn't pay their share.....they went on fire sale and Addax gladly offerred them a fraction of their true future value and smiled as they signed the check.

Thanks for putting the play in perspective Platina.