Ledbetter was hired to evaluate oil properties. I thought ERHE would have acquired an interest in another property before now. I envision a swap of some of the ERHE's JDZ assets for a nice on shore producing property in the Gulf of Guinea area. This would give ERHE income ,reserves and tangible assets to go with the potential of the JDZ blocks. With SEO's political connections and African business connections, I can see SEO and his cronies managing some of the Niger river delta proven oil properties that are too hot for the western oil companies to handle.
It could be a real win-win situation for all parties. SEO gets the oil, the locals get more jobs and local control, and the government gets more stability in an inherently unstable area.
If a buy out occurs I still belive it will be from a large well capitaized company such as Sinopec or Chevron. Although I would welcome a deal with Petrobas. Addax is a little small to swing a deal by itself, but ERHE could be apart of a bigger buyout including Addax.
A deal from EEL or Afren would be compromised by a lack of capital , debt,and other baggage associated with being a small cap 3rd world oil company. JMHO Good luck Farrell
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