Replies to post #137580 on ERHC Energy Inc (ERHE)

[Spec29]

Me, I exercise all 4 options no matter what...

and sub-lease the AA to Addax/Sinopec for at least $250,000/day more than I'm paying Aban Offshore.

In other words, expect those options to be exercised. Somebody will sub-lease the rig.


A wise man never plays leap-frog with a unicorn.

[dat_51or]

Top Drive. I'm no industry expert, but my thoughts are:

I don't think we'll get the AA early. The ROO imo will be a different rig.

Nil to zero chance Kosmos won't use all of the 4+4 slots as they have a 2 billion barrel field to devleop. They have many, many sites to drill and will be ready to do so.

Even in the unlikely event that they didn't want to use/couldn't use the slots, they can sub lease the rig out for $600,000/day. They're paying less than $400k per a posting earlier today. Nice profits for them.

IMO, our best hope for drilling action within the next 12 months is a ROO. Go Addax...(fingers crossed)

dat