Replies to post #146214 on ERHC Energy Inc (ERHE)

[Lickety Split]

SPEC29,

All of that could very well be true. The whole point of my posts is to flag the problem that something is very wrong with the fiduciary system that is supposed to be in place to protect companies and shareholders. I sure hope the SEC takes a good long close look at every aspect of what is being done within all of these companies. Not sure it will do any good since we all know who controls the lobbyist dollars for oil in the U.S. BIG OIL.

Strass - Makes it all sound kinda futile doesn't it.

[DegenerateGambler]

Spec29, maybe SEO is in agreement with your thinking and that is why he WILL hold out for the ten bucks a share. SEO knows damn well what he has in the JDZ and knows he is sitting on a "black" gold mine. I to not think he is in any hurry to sell, especially when the current share price in soooooo low. Any high priced sell would be impossible to make at this point in time with the share price at 14 cents. We all must be patience and wait it out with SEO for the oil to be confirmed after the drilling. Hopefully, in 2009, but that is not guarantee. The AA is STILL in the shipyard and at least a year from drilling for Addax.
DeGen
Ps: Excellent post Kaydee, I fully agree. Times are "achangin"

[dbernet]

I am sure that CVX would like to do exactly as you say.

Two things in the way:

SEO won't go away cheep.

Where is Addax going to get 7.2 Billion dollars? Or 3.6 for that matter? For unproven reserves.

Now --- after proven.....

db

[balance_builder]

Super post Spec29. Dadd...Spec's post is one to put a sticky note on IMHO.

[Nightdaytrader]

Spec29 - how does XOM take control of blocks 1-4 when Chevron is operator of block 1, Sinopec is operator of block 2, and Anadarko is operator of block 3?


ND9

[brez63]

spec, I must admit that I have not read all the posts, please can you explain to me what you meant by

"-JCG has dissolved his interest in Addax for more shares of Addax & Oryx."

Thanks
Brez

[Art2004]

Why not Chevron? But only after proven reserves.

[farrell90]

XOM reported 34 billion dollars of cash in their last annual report. The last few years XOM has been critcized for not securing additional reserves. The price to buy reserves may never be lower. XOM should be evaluating oil producing properties to buy . The next few years it will be cheaper to buy reserves than drill.

When the markets stabilize we should see consolidation in the oil industry as the cash rich companies like XOM purchase new reserves. Countries such as China should be looking for a way to put their dollars to work and securing future oil reserves.

Will XOM buy out ADDAX and ERHE? Only time will tell ,but if XOM does not buy out the JDZ you can bet Sinopec,CVX,COP,BP and others will be evaluating the JDZ. Good luck Farrell

[umbra]

*IF* XOM makes the move you suggest...

IMHO they will only do so in partnership with SNP.

Let's see.

[RKT989]

Spec..I have agreed with that since we discussed it way back when Exxon handed 40% of block one to Addax for cost..

and nothing so far has changed my mind..