Replies to post #131100 on ERHC Energy Inc (ERHE)

[magicatlast]

rufisque, thanks very much for your attendance and reporting. I Agree on the drilling hopes, but it is what it is. I do believe that at $600K day rate they should be able to find a rig to start sooner. Of special note also was the expectation for multiple hits of less than huge pools in blk 4. I think we need to repeat this post often to keep peoples expectations more in line with reality. In fact, I think this post needs be referenced prominently in the IBOX.

Thanks again for your efforts, expertise and sharing.

Magic

IS THIS A GREAT BOARD OR WHAT??!!!!!

[redtxdog]

rufisque...excellent job and thank you for sharing. The stars are starting to line up for our little minnow. Have a nice weekend! redtxdog

[RUBY1100]

rufisque Greatly Appreciated !! of NOTE

1. When will drilling start in JDZ block 4?
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The Aban Abraham will be drilling for Addax approximately a year from now, in Q3FY09, up to 10 wells. Addax is doing the maximum to drill earlier and is actively looking for a rig of opportunity, ideally for Q3-Q4/FY08. They are willing and able to spend the USD 600.000 or more per day for an earlier drillship. First target: the Kina prospect in block 4.


3. Where is Addax on the block 4 Godsonic issue?
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Actually subject of arbitration in London. A friendly arbitration process, the relationship with ERHE is excellent. Addax will most probably end up with an additional 7.2% of block 4, ERHE with 1.8%.

7. Jean-Claude Gandurs plans for the future?
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Finish the actual 3 year program, increase the value of the company and sell the company for the highest amount possible (possibly in the order of USD 16 B). Jean-Claude Gandur started the business with USD 13 M, Addax is now worth USD 8 B and the programs underway (JDZ and Taq-Taq) should double the Company. Addax is looking for acquisitions.

[Tamtam]

Rufisque, dankuwel
I have a hard time to believe what JC Gandur says about drilling next year in Q3 or he did not told you the complete truth teasing us a bit. Too much people are talking about drilling will commence very soon.
tamtam

[YankeMike]

rufisque: Thank you very much for the excellent report!
Mike

[busteedagain]

Thank you for your efforts. I only hope Gandur had to be conservative in his estimates on the JDZ as relates to elephants; would really love to find at least one in our fields.

[Opus X]

Rufisque, thank you very much for the information. While I have not met Gandur in person, based on his achievements and his communications, that had to be great to talk with him after the meeting. He sounds as if he is clearly defining his/Addax exit strategy which can only benefit ERHE holders, IMO. Also, it sounds like he is confirming further delays in the AA. :-(

Thanks again,

Opus X

[Gremlin9999]

rufisque-Were you able to find out the exact status of the Aban Abraham at the ADDAX share holder meeting??

1. Estimated completion date for refurbishment

2. Estimated sail away date from Singapore

[Nightdaytrader]

Rufisque - Regarding XOM selling their percentage of block #1 to Addax, any idea what Gandur meant when he said that one of the reasons XOM sold was because "continuing pressure from Addax to sell"? What he kidding or laughing when he said that? I'm just wondering how little Addax could pressure big XOM? Any thoughts you have are appreciated.

ND9