Why are you surprised, ERHE stated they were entering into an Agreement with Starcrest. Just because they did not release the information does not make a "No Go".
As far as the exchange of shares for assets is anyone's guess.
We all know the ERHE controls 100% of block 4 in the EEZ and everybody knows that ERHE wanted to sell this block. However, getting a Higher price from another Suitor(s) and a Free Carry of 15% would certainly be worth more than Kosmos was willing to pay.
Oranto stated that they would like to start production in the JDZ block 2 within 18 month of formalizing the new PCS. They also talked about how the structure that contains about 1.2 trillion cubic feet resides in both block 5 and block 2. They also state that another structure is deeper than the gas structure and could contain oil. Oranto is the operator of block 5.
Exxon wanted back into the JDZ block 2 "Only if they could be the operator of block 2".
I posted about Canadian hydrocarbon outfit Oracle Energy and their subsidiary Wellpoint and how it is related to Peter and SEO to show that just because ERHE does not talk about business dealings in the works, does not mean that they are not actively seeking business opportunities with other Quality outfits in the business.
ERHE has a "New Business Model" that relies on Developing Marginal Hydrocarbon in Nigerian and the Surrounding Region.
So as Clint Eastwood would say "Do You Feel Lucky"! betting against SEO on his Home Field!
Please conduct your own research in case I am mistaken.
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