Replies to post #97337 on ERHC Energy Inc (ERHE)

[kuxe0]

The calm before May 11 + May 29 :-))

....Analysts said the auction scheduled for May 11, which will include 45 blocks in total, would be mostly for show and that the real decisions had been made in advance.


"The licensing round has been organised essentially to validate deals that were negotiated bilaterally, mostly by (Energy Minister Edmund) Daukoru who has been travelling in India, China and elsewhere," said Philippe Vasset, editor of the Africa Energy Intelligence newsletter.

The timing of the bid round has caused controversy in Nigeria because it comes in the dying days of the administration of President Olusegun Obasanjo, who is due to hand over to president-elect Umaru Yar'Adua on May 29.

The DPR has said it wanted to sign Production Sharing Contracts with successful bidders before that date - giving itself just 18 days to achieve what took six to nine months after previous bid rounds.

"The timeframe is unworkable for anyone who hasn't been involved for a long time ahead of the round," said Vasset.

(from : May 8, 2007, By Estelle Shirbon)
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I fully agree with this articles opinions :-))

BTW: pls watch, that May 11, 18:00 h is also the deadline for a small but interesting sideline battlefield: the Equator / Peak deal.

[oil-cowboy]

I truly do believe EO is here to make money. He is on his home turf and he has seemed to get his way so far. IMO he expects some large dollars here, and will wait for them. I also think he figures those dollars will come to him and the price right now is irrelevant, as it has always been. The light at the end of this tunnels is drilling of course, comming closer by the day. If the man can't make money with this POS then I'll loose my faith in Nigerian corrumption forever....lol. Just kidding of course.

Too many countries need this oil, all we need is fair market value for us and we will be visiting Las Vegas bi-yearly at our 5$ uptick parties.....