Replies to post #116821 on ERHC Energy Inc (ERHE)

[tryoty]

How on earth would Gandur justify $3.5B (stock + cash) for ERHE when he just bought 40% of block 1 for $77M?

I don't think you.

[oil-cowboy]

If any company could make a calculated offer on our rights, Addax would be the best equiped to do so. I think its such an obvious play that most people disregard it.

Can't see where else they would spend 1.5 billion in the next month or two.

Sinopec has to have some reaching hands as far as rigs are concerened. Hope they can go to bat for the team. We need a home run.

[jbofthecloth]

He's not excited enough to pay what would amount to $2.80 per ERHC share. $0.28 worth of Addax shares for each ERHC would be more like it (1 Addax for 140 ERHC shares).

[brez63]

Perhaps,
But, I really don't think AXC can afford SEO's asking price (which is probably above $6/S). Why, because we have enough money in the bank to weather one more year with no negative to the company's finances.

My guess, we are in status quo, until next year when the money truck will hit the fan. In 09-10 the fan will be on high.

But that's just me.

Brez

[balance_builder]

Jim....from Addax's recent presentation:

Other items to watch for:
• Gas monetization agreement(s) in Nigeria
• Deepwater drillship slot of opportunity
• Kurdistan pipeline approval
Another active year in 2008!
• Fast-track development approval for OML137
• Acquisitions (farm-ins, properties, Corporate)

http://www.addaxpetroleum.com/_media/2008-03_Investor_Presentation.pdf