Replies to post #80053 on ERHC Energy Inc (ERHE)

[rocky822]

Good question. I'm going to check out Conoil - I'm pretty sure this is the one who's CEO fled the country.

[rocky822]

Then there's Godsonic.

According to STP report, these are the directors:

Nigerian; Okoye Godson, Colin Egemuonye and Michael Kayode directors; ownership unknown

Can't get any google hits on the first 2. On the third one, this is link that says someone named Abimbola Michael Kayode Esq works in a law firm with:

Ejiofor Ifeanyi Chuks Esq.
Litigation and Business Law Department

Ifeanyi was born on the 24th of January 1975. He is an indigene of Oraifite in Ekwusigo Local Government, Anambra State.

His formal education includes:- secondary school at Oraifite Grammar School, Ekwusigo Local Government Area, Anambra State between the years of 1989-1994.

His post secondary school education was at Nnamdi Azikiwe University Awka, Anambra state where he bagged an L.L.B (Hons), and consequently, B.L at Nigerian Law School, Bwari, Abuja, Nigeria. He was on scholarship of Sir Emeka Offor throughout his post secondary education at Nnamdi Azikiwe University Awka and Nigerian Law School Bwari Abuja-Nigeria.

:: Chamber Duties:
Litigation, Legal Research, Legal Opinion/drafting preparation and filling of necessary incorporation papers, conducting searches, drafting resolutions and other corporate papers at Corporate Affairs Commission. Other duties include, drafting of agreements, letters to clients, court, personal letters for the principal and other special assignments by the principal.

:: Professional Experience:
Akukalia Chukwudi Nwankwo & Co (as chattered attachment) Feb. to April 2004
Nelson Uzuegbu & Co. (3 months internship)
Chrome Oil Services Ltd (as legal officer)
Kayoed (SAN) & Co. NYSC (2004-2005)
Kayode (SAN) & Co. Associate (2005-till date)

Chuks as fondly called by his friends still intends to develop further academically in the Legal Profession, by enrolling for a Masters Degree Programme in Law and thereafter Doctorate Degree. He also intends to have a brief shot at Politics at God’s appointed time. Above all, as a young man with strength of character, hardworking , dedicated, God fearing, and focused on set objectives, Chuks hopes to put in the best of his efforts to achieve his set objectives.

http://www.kayodelawchambers.com/counsel.htm

[hetherb]

Tryoty - greetings old friend (starnet).

the original addax rights according to the math below was 42.3 and with the new 5% from overt you get 47.3. not 38.3 as stated below.

[Strategyone]

Repost from the IV board:


"Geez, are we starting this conversation over again?

Originally, the JDA awarded 35% "bid interest" to Noble/ERHE; ERHE 25% "signature free"; Conoil 20%; Hercules 10% Godsonic 5%; Overt 5%.

At some point in time the JDA allowed Noble to drop out of the 35% Noble/ERHE bid award and allowed the replacement of Addax/ERHE BUT lowered the bid interest to 26%. The 9% additional bid interest was given to Godsonic (who already had 5%) from the JDA as part of the final award process. NO Compensation to ERHE or SEC filing required by ERHE was or is necessary as the 9% interest was not ERHE's to begin with or to negotiate away. Granted, it was not very clear how/why/when Godsonic obtained the additional 9% award but I have a guess that Addax originally was not interested in covering 60% of the expense for drilling in block 4 OR Godsonic somehow negotiated to allow Addax to replace Noble as long as they got 9% more.

Therefore, ERHE always retained its 25% signature free award. It then negotiated part of it's 25% signature free portion to Addax for the upfront expense free ride to oil production. ERHE ended up with 17.7% signature and upfront-expense free ride (paid for by Addax and ultimately recovered from oil production). Addax then had 33.3% (33.3 + 17.7 = 51% block 4 award).

On April 13th, Addax acquired and PR'ed the addition of 5% interest in Block 4 from Overt Ventures.

Current Breakdown of Block 4 Award:

Addax now has 38.3%
ERHE 17.7%
Conoil 20%
Godsonic 14%
Hercules 10%

TOTAL 100% End of current discussion until changes are made."

Good luck all,

Strategyone