Replies to post #146231 on ERHC Energy Inc (ERHE)

[Spec29]

Addax would still need to force/convince ERHC...

to disolve their interest in the JDZ.

Get a ROO now and you're looking at paying a much higher price for ERHC assets in the JDZ.

Stalling the acquisition of a rig just keeps driving ERHC's share price down. I think it's a delay tactic.

We all say ERHC has the funds to take us to drilling. Addax is saying, "prove it."

Addax's problem is they have to drill by March 2010 or pay the liquidated damages. It's a race to the finish line.

[DegenerateGambler]

The big problem is the Jean Claude is a VERY BAD poker player, he thinks he holds a great hand with his company willing to pay for a deep water drillship. He thinks the Rig owners will come running to him offering low prices because the rig owners can not "unload" the drillship elsewhere. The rig owners have called his "bluff" and realize these deep water drillships continue to be in HIGH demand justifying the high prices they are asking for them. JC refuses to pay these high prices and continues to be out of the pot having the losing hand. It appears JC's bad poker playing has caused him to be a bad businessman as well, causing his company to lose out on drilling opportunity.
DeGen
Ps: I write this post between hands in an line poker tournament!