Replies to post #324309 on ERHC Energy Inc (ERHE)

[kingpindg]

No farm-out yet, this is a PSC. And it is for JDZ Block 2, where EHRC previously had 65% interest; 30% based on their agreement with Sao Tome and 35% added in the bid round.

So, while it appears they gave back that additional 35% for nothing, would it be better to be sitting on 65% of a block where no progress is being made, or to have 30% of a block where there could now be another shot at drilling by someone like, say, the rumored ExxonMobil?

Now, of course there is the question about how ERHC will pay their way, which would most likely have to be via a farm-out, and whether or not they can get a partner, but that can be left for a future discussion.




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