Replies to post #109450 on ERHC Energy Inc (ERHE)

[Pepsiman2001]

Not to mention that they didn't exercise their 2 25%'ers, which led to ERHE ending up with what they have now. XOM has been kicking and screaming since the rights were awarded. This is just the finality of the situation. Probably a relief to all involved. We aught to be grateful. If XOM would have exercised their 2 25's, our rights wouldn't look nearly as good as they do now. Just goes to show how long these things take in the ole patch.

[TopShelf]

Doug,

Excuse me for these details, but what does 40% rights have to do with the operator status? What was CVX %? Did CVX not have more % or was it the high bid that took the operator lead?

TIA
regards

[Art2004]

As posted months ago, Exxon did make a final attempt to buy the operatorship of Block 4 with Anadarko when they sent a team to Nigeria, Sao Tome and the JDZ after awards had been announced.

They were turned down because awards had been announced and accepted.

IMHO Nigeria did give Exxon another deep ocean block which I believe they are already drilling.

Personaly, I agree with S. Freed that Addax is a better fit for the JDZ and ERHC in Block 1 than Exxon was.

Exxon was not cooperating with anyone, not even Chevron.