Morning Art,
I know that Chevron mentioned a few years ago that they did not want to be involved in any of the blocks ERHC is involved in, but now that all the deals were struck and the company gets closer to being in blocks that have struck oil, I think that changes everything, irrespective of whether Offor is involved with ERHC.
I don't profess to be an expert on the oil industry, but it seems clear to me that things are changing fast as a result of new hungry mouths at the carcass and the old methods and preferences of the past will have to change now that the new mouths are strong enough to take a bite of their own. The old lion has to make room, as it were.
I am deviating somewhat from my original point, which was to question all the fuss about Offor, which I believe is something that has been planted on the board so everybody makes it into an issue and gets concerned about it. As to why, there are many different scenarios that come to mind that I don't have time to write here.
With the oil patch appearing to be transitioning, plus the fact that we suspect there to be a serious quantity of oil recoverable in the JDZ, the preferences of US oil majors and others as to who to partner up with may mean they will do deals with the consortiums we are in, Offor or not, if it works to their advantage. There are many reasons that have been discussed in detail on this board as to why it would work to their advantage.
They can't force him out; they can buy his shares, but he is rumoured to have already turned down a couple of offers. I am sure if somebody offered him $10 per share, he would take it, but who is going to do that before oil is confirmed in our blocks?
Offor 'aint going anywhere fast IMO.
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