Replies to post #110270 on ERHC Energy Inc (ERHE)

[majicathome]

4. SEO hasn't had his price met.

[RKT989]

This oil is so important to nations the govts are involved and leading the way and the companies are following cue on the strategic oil deposits in the GOG..

Also if they are allowed to bid..They will wait for proven .Tjhe majors are in no hurry to develop new deposits.They are getting rich and blue skies ahead for as far as they can see.IMO

[walldog0]

I think its....

just another oil patch to them, they have many just like it around the world. The Nigeria unrest bothers them,and the politics are troubling.

I believe their thinking is, if the can't buy controlling interest in it...then they don't want it!...and they don't really want to pay a fair price for it either.

They have been getting rights off W.Africa for years, for pennies on the dollar, and they are stuck in that mindset,..imo.

Big Oil has never really had any real competition for deepwater rights before...this China thing is new to them....and who the he11 is this damn ADDAX company, anyway.

Big Oil is in a transition period,imo.

[Jim Long]

bayfisherii,
As for No. 3, our rights are as strong as the dollars that were paid for portions of our rights by Sinopec, Addax, and Anadarko. If their lawyers did not think our rights were rock solid then we would have never seen one cent from them.

Just as the potential buyers have had an opportunity to see the 3-D overlays so have potential sellers. That is the reason I said (Post 109898) that I believe the buyout formula has already been put on the table with a take-it or leave-it provision by SEO. If a potential buyer wants cheap shares then he/she will have to manipulate the market as SEO and friends control more than 50% of the outstanding shares and they are not selling. Without SEO's and friends shares you can have minority ownership on the cheap.

Yes the investigations are a hinderance but to what degree remains elusive. For a number of us on this board we are more than aware that they hang over our individual and collective heads but we continue to accumulate more shares. For the record I bought more yesterday.

I continue to think that if someone knows someone close to any of our partners then a lot of info could be gleaned. I say that for the reasons I posted yesterday but also when I worked in the heavy construction industry my project manager lived next door to an Exxon (then Esso) VP. The VP was forever giving my boss stock tips months before a stock would take off. It was uncanny how much this Esso VP knew about what was going on inside so many companies. I know there are probably several someones in the E&P oil industry who know what the 3-Ds are revealing about JDZ quantities and about which company is planning to do what in the future. It appears that the individual we need on this board does not yet visit here. Maybe someone reading this may know someone who in turn knows the right person.

So much for my thoughts,
Jim Long

[TopShelf]

Bayfish, Great question & similar to the one asked yesterday about why people from Addax are not rushing to scoop up shares if they know there is a great deal of oil there. Not many responses either to that question. Also why are the Chinese not rushing to take us out? Or anyone for that matter.

There does seem to be by all accounts( whose accounts?) oil. Were sitting at pennies. Our SP is stagnant. Solid rights.
Blah Blah Blah. All the things that we go over daily. So your question is valid. I know we have investigations going on but still, something is not right in our neck of the woods.

But I continue to persevere and hold. Am I a dummy? Am I (we) being duped even from this board? I am looking forward to a Shareholder meeting just to see if there is even a ERHC company. LOL

[oil-cowboy]

We have been sold into the ground since the investigations. Even today, we get slowly dropped on no volume. This is pressure IMO from the same entity that caused the investigations in the first place. Its a bargaining tactic, plain and simple. We have solid rights, good partners all that crap, but when you play hard ball with the biggies, you have to take big hits. Like we have been for the last year.

Really, who in the heck would sell at these prices......?

Just my .2, oops make that .01 cent now.

[Art2004]

Bayfisherii, The dull, boring truth is that even Addax does not expect to find Elephant Fields in the JDZ. They have publicly stated that they expect to find multimple commercial resevoirs, but not stand alone Elephant Fields.

Chevron moved its Sao Tome offices to Angola soon after Obo-1 was drilled. Trust me, that had nothing to do with any of the reasons you put forward.

Chevron already produces oil from the "Agami" field near to OPL291 of Addax. That field is expected to go to 200,000 barrels a day. They share another large field with Exxon in Nigerian waters. Chevron and Exxon have several producing wells in Angola and other countries in West AFrican waters.

Sorry, but the JDZ is not the center of the deep ocean oil world or even the Gulf of Guinea.

I am confident that Addax will make good money on the JDZ blocks and ERHC and ERHE will go up considerably though $4-5 a share seems like a great price target to me.

Those are the simple truths for why the majors are not trying to buy into the JDZ. They have other good producing wells and other good prospects.

That's why I don't expect any big deals for Addax or ERHC until at least after Addax drilling in the JDZ produces known results.

Nothing too mysterious in the above explanation.