Replies to post #294905 on ERHC Energy Inc (ERHE)

[oil-cowboy]

Must be something pretty juicy for an IOC to enter a deepwater project at this point in time. Does the JDZ fit somewhere in there too??

Very very positive however you slice it.

[midtieroil]

I believe the agreement is real. But I'm not sure it means much. IOC apparently paid nothing for a right of first refusal and ERHC got the right to put out a positive PR. I'd put the chances of this resulting in an actual contract at no more than 50%. That's a whole lot better than 0. Drilling is years and years away so upfront money is the only thing that matters to me.

[condor1]

Julius, Who cares whose fault it is. That topic is a Red Herring.

The speculative fact remains that this event of the EEZ/ IOC was so sudden and apparently fortunate for ERHE, that I question the validity of it, given the other associated issues, ie timing, cost of off shore drilling, incomplete data acquisition, mystery identity, only right of refusal and no mention of money.