Ruby, enjoyed reading your post. Particuarly all the good news possibilities that can be occuring soon. I like the idea of Chevron and ERHC working out something around blocs 2 and 1. The US would appreciate any such deal too.
As I noted, people keep posting about a Sinopec ( or even Addax) buy in-buy out to keep happy expectations going.
Here are 3 reasons off the top of my head why I don't think it will happen soon.
1) Sinopec got the operatoship of Block 2 for under $100 million dollars.
Why would it spend almost a billion dollars for a few more percentage points in Blocks 2 and 4?
2) China usually has been buying proven reserves. They recently bought a good sized chunk of Iran's proven and producing oil fields. I don't see them being horney for percentages of unexplored deep ocean blocks in addition to their current position in Block 2.
3) Why would SNP-ERHC do a deal now that might antagonize the US government when ERHC is being investigated by the US?
I'm confident that ERHC and Sinopec are solid partners in Block 2 and we can expect to hear good news here.
People appear to really enjoy playing "fantasy football" with ERHC buy ins and buy outs.
Looking for other good news, as Ruby posted.
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