What is a liability for ERHC is this...
“13.12 Public Announcements
No public announcement or statement regarding the terms or existence or this Agreement shall be made without prior written consent of both Parties; provided that, notwithstanding any failure to obtain such approval, neither Party shall beprohibited from issuing or making any such public announcement or statement to the extent it is necessary to do so inorder to comply with the applicable laws, rules or regulations of any government, legal proceedings or stock exchange having jurisdiction over such Party or its Affiliates, however, any such required public announcement shall include only that portion of the information which the disclosing Party is advised by written opinion of counsel (including in-house counsel) is legally required to announce. Such opinion shall be delivered to the other Parties prior to any such public announcement.”
They have hidden behind "we can't announce anything without operator approval" in the JDZ for 7 years. They still haven't released a PR saying the 5 JDZ wells were dry holes... they haven't said a damn thing.
The Joint Operating Agreement above gives them EXPLICIT approval to announce well results (critically material to ERHC shareholders) to comply with the laws ERHC has to operate in.
They aren't doing that. That is illegal.
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