You're assuming that's when the license expires and it's Sept not November.
But I think the license has been extended or else Sao Tome would have simply waited before bidding the block out.
There's no way Shell, who is interested in Block 4 with source oil is going to embroil itself in multi year litigation with ERHC. They will pay to complete the deal. The fact that Shell is interested tells you a lot about block 4, because if anyone knows about the prospectivity at the block its Shell who who drilled block 6.
And if they offer anything over a penny, especially if that penny turns into a dividend, there'll be a short squeeze.
Shareholders owning 55% of the shares outstanding want to vote for a penny dividend, but we still have to figure out whether our shares are voting shares or shorted shares. Once we get that answer back, we'll have solid proof that shorts exist if our shares aren't voting shares.
Either way, shorts are screwed. And most of us are counting on an epic squeeze.
Krombacher
Market Data 
Markets 
AI
