Does going fishing involve stopping at the gas station? The answer is yes, if you need gas.
The same rule applies to an AIM listing with a reverse split. If they need a split, they will do one. Personally, I consider all the R/S talk fear mongering scare tactics. To even bring it up only displays the lack of knowledge of the value of ERHE's assets.
ERHC Energy can trade to the 10's and 20's with it's currect assets and current share structure. A split of any kind is not necessary in my opinion.
The Fisherman.....ERHC has stated all options are open. While RS involving OTC/BB stocks are generally for the wrong reason (i.e. survival) I wouldn't necessarily view a RS of ERHC as a bad thing just prior to drilling. Most institutional investors have limits as to investing in penny stocks. An RS could bring their monies into the company.
I am not, however, saying I believe an RS is anywhere in the co plans. Also see arts post below regarding exchanges:
I'm still wondering Petrobras plans on involvement with Sao Tome in their interests. They (Petrobras) have a vested interest in the AKPO and Agbami fields....a relatively very short distance from the JDZ. SEO has been dealing with Petrobras on the side....ie ethynol plant....so one can see them on David's radar I would think.
S. Freed recently posted on the EF board:
"There have always been rumors about the interest level of Petrobras in the JDZ. I think we can elevate the rumor to fact."
Note that his words specifically state the JDZ....not the EEZ. Again, one has to wonder HOW they intend to gain interest in the JDZ. Blocks 5? Block 6? Block 9?
Or...or....or will they become involved with ERHC/EEL/Addax in some fashion. Bring in David's reported skills and ERHC's PR on same. Sao Tome would be pleased as punch to have their brothers involved in their interests. More importantly, said involvement as theoried would also include them on the 5 most prolific EEZ blocks. That could be a huge bite (read: large stake) IMHO.
The below dated article continues to intrigue me due their their world leading deep offshore talent/experience especially noting that STP's EEZ is ultra deep:
Brazil's Petrobras interested in São Tomé oilfields afrol News, 20 October -
Brazil's national energy company Petrobras finally has demonstrated interest in the upcoming oil exploitation offshore São Tomé and Príncipe after having been invited to the country for years. Petrobras, which already operates in neighbouring Nigeria and Equatorial Guinea, sent a delegation to negotiate business terms with São Tomé authorities.
The Petrobras delegation went to the fellow Portuguese speaking archipelago before the weekend and had talks with São Toméan Natural Resources Minister Luís Moreira da Silva. The aim of the talks, Petrobras representatives told the news agency Pana, was to "effectuate businesses as soon as possible."
After the talks it however remained undisclosed how Petrobras was to enter in the São Toméan oil sector. Although invited by the government, Petrobras has so far not participated in any bid round to explore or exploit oil in São Toméan waters. There were also no tenders from Petrobras as seven oil blocks in the joint development zone shared by Nigeria and São Tomé and Príncipe last year were offered to international oil companies.
For the São Tomé government, it has however been of diplomatic importance to recruit the Brazilian oil giant to its still unexploited offshore oil fields. Brazil and São Tomé are strongly connected in the Community of Portuguese-Speaking Countries (CPLP), where Portugal and Brazil are the main investors.
During the state visit of Brazilian President Luiz Inácio Lula da Silva in São Tomé in November last year, his counterpart, President Fradique de Menezes had urged for Brazilian investments in his country's oil sector. The São Toméan President told President Lula that he had been disappointed as there had so far been no bid by Petrobras to exploit São Toméan oil.
While the Brazilian President at that stage could not promise any future tenders by Petrobras, the two Heads of State nevertheless signed an agreement regarding technical aid to develop the São Toméan oil sector. Brazil's National Petroleum Agency (ANP) since has assisted São Toméan authorities in creating a legal base for the national oil industry.
The Brazilian government since that is believed to have pressured the Petrobras executive to look into business possibilities in São Tomé. Petrobras is believed to enter the São Toméan market in cooperation with Chinese partner oil companies that already operate offshore the archipelago.
Petrobras is already heavily involved in the Gulf of Guinea. Its largest operations in the region are in Angola, accounting for almost 5 percent of the Brazilian company's foreign oil production. Petrobras is also involved offshore Nigeria and in a shared Nigerian-Equatoguinean zone, both operations being close to São Tomé's offshore zone.
Pssst...pssst...wasn't the island advocating for Anadarko (B-4) at one time? Recently there were rumors of APC eating EEL. Nothing confirmed of course, but rumors (media) nonetheless.
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