Replies to post #360636 on ERHC Energy Inc (ERHE)

[nwtf]

BOOM

[ssc]

Nice work reporting the facts and exposing yet another delusional dickran narrative. Now get ready for a full-fledged dickran temper tantrum as we all know how much he/she hates to be proven wrong (although dickran should be used to it by now as it happens on an almost weekly basis). Regardless of how many versions of his/her desperate, deceitful claims of dollars/share buyout, bidding wars, short squeeze or erhe dividends dickran spews out, at the end of each day the erhe share price near zero is the indisputable fact that just doesn't go away.

[Krombacher]

In your own quote it says that if any condition is not met then any party may terminate but it doesn't say that the agreement is terminated automatically.

In other words, any party to the agreement has the option to terminate if a condition is not met, but that doesn't mean they necessarily will terminate it.

So, I would not conclude that the agreement is "incomplete" if a condition isn't met. I would only conclude that the possibility exists that the contract can be terminated if one of the parties wants to terminate it, if a condition is not met.

But let's say your assumption is correct and the contract was terminated after ERHC presented the assignment agreement to STP and got its extension because it proved it signed on a credible operator with this contract and that was enough to prove they're "in production" better than a PSC of self declared / self designated operators can.

So the sequence of events in this hypothetical scenario would go like this:

Step 1 - assignment agreement is signed with Total and presented to STP for extension

Step 2 - extension is granted

Step 3 - some conditions in the agreement are not met

Step 4 - Total elects to terminate the contract even though it doesn't have to

Step 5 - ERHC has no operator so STP is upset and ERHC doesn't pay taxes on Block 11, further annoying STP.

Step 6 - STP can't wait until end of Sept when the block would otherwise expire because it already granted ERHC its extension.

Step 7 - so STP starts a bidding process on block 4

Step 8 - ERHC issues an international caveat emptor causing the bidding process to fail

Step 9 - STP gets smart and decides instead to invite Shell into a PSC

Step 10 - Shell and ERHC cut a deal brokered by STP as the middle man

Step 11 - Total still wants the JDZ assets

Step 12 - With the block 4 issue resolved, Total moves forward on the JDZ assets

Step 13 - ERHC shorts are screwed.

The above is hypothetical.

Krombacher