Replies to post #295757 on ERHC Energy Inc (ERHE)

[kobiashi2000]

It's been a while since I read the agreement, but I believe ERHC is responsible for 25% of their costs of drilling the well, CESPA will cover 75% of ERHC's costs. So, if ERHC owed $1 million, then CESPA would cover $750,000. Also, it's been a while, but I think if they hit oil that CESPA will cover 100% of ERHC's costs towards an appraisal well.