dirac...
In the JDZ, ERHC is carried in blocks 2, 3, and 4. They are in Arbitration over rights in blocks 5 & 6 (we should know the outcome in 6 months or so?). ERHC also has rights in block 9.
In the Sao Tome and Principe Exclusive Economic Zone, ERHC has preferential picks to TWO 100% blocks and TWO 15% blocks. Since Sao Tome has never offered blocks before... ever, it is expected that these blocks will be some of the best in Sao Tomean waters. Sao Tome has announced they will auction EEZ blocks by the end of the year, so choosing the preferential blocks will have to occur by then. Development of those blocks will follow the same model ERHC used in the JDZ, hopefully they can keep 40% or more of those 100% blocks and get a Petrobras or Sonogal to carry them.
As you can tell, I am a believer in this stock, but even with drilling in block 4 starting by year end the development of the above EEZ blocks is 5, 7, even 10 years out. It's going to be a fun ride for a good part of that 10 years though. The company has a lot of blocks to drill in the oil hot spot of the world.
The i-box at the top of the board contains enough DD to put you to sleep several times over. It's a great starting point!
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