Replies to post #360371 on ERHC Energy Inc (ERHE)

[Manti]

Well, that shoots down my theory that Total cut out Kosmos. It looks like they TRIED to cut them out but lost.

The short excerpts that show up in my search engine indicate that after the legal victory Jon Cappon of Kosmos was working with STP to try and preserve/clarify those rights that Kosmos now controls. But all of that was 5 years ago.

It appears to be an ongoing battle, but I sure don't see ERHC shareholders being in a very good position. As has been pointed out, IF ERHC can manage to get anything at all out of this, the Nigerians who control the company will certainly be sure to skim any assets and steer them into their personal pockets.

[RKT989]

If Kosmos had control of block 4 why was it rebid and taken from Kosmos

[Krombacher]

Well... Kosmos won the arbitration, but ... you also know that they pulled out of Harris county and that Total won the case on block 4 in arbitration as well. You also know that Kosmos IR said they're out of block 4.

But, given all of that...

Let's look at the facts....

According to you, you think Kosmos still thinks they have a claim on block 4, despite the 8k that pretty much said that ERHC kept block 4 with finality and despite the international caveat emptor on the block by ERHC. So, therefore, if we are honest here (and I have no reason to think that you would not be), we must also concede and admit that ERHC and Total also think they have a claim on block 4.

So it could be that there's an impasse with no conclusive anything regarding block 4 and who has the claim: ERHC and Total OR Kosmos.

So it could be that Sao Tome put the block up for bid for this reason, because it got tired of waiting for the impasse to be resolved (in addition to any tax issues). We know that Kosmos DID NOT bid on block 4 at all.

But, clearly, Shell would not bid on the block and win it if the block were contentious....UNLESS Shell spoke with Kosmos and ERHC and Total and is working to resolve the issue.

Clearly, Shell knows the value of block 4 and the source oil after looking at block 6 and Jaca 1, better than anyone else would.

So for Shell to step into the "quagmire" of ERHC/Total/Kosmos and potentially upset its partner Kosmos in the other blocks must mean that Shell thinks block 4 is well worth the hassle of untangling the quagmire....and clearly they're in process of doing exactly that.

So long as ERHC gets more than a few pennies a share and can issue a penny dividend and later get the JDZ assets sold to Total, I could be very happy when we add on top of that the short squeeze effect taking us into the dollars. And I think they will because clearly Kosmos values Block 4 for 17 cents and Oranto and xrimlinger value the adjacent block for 20 cents a share. And that's before Jaca-1, source oil, high oil prices, and Shell's interest in the block, which to Shell is clearly worth the hassle of dealing with all of this. Shell made its interest known AFTER ERHC"s international caveat emptor was issued. Hence, Shell is well aware of the quagmire it must untangle.

Whatever you'd like to smoke is fine with me...but the logic on this is very strong, and I challenge you poke holes or provide an alternative scenario.

Krombacher

[RKT989]

Please address this.
Why if Kosmos won block 4 and is not contested why did Shell bid on it