Replies to post #169092 on ERHC Energy Inc (ERHE)

[TheDane]

Thanks, Mark. Here is the quote..."Industry sources also say the Addax deal may pave the way for Sinopec to buy out Houston-based ERHC's significant holdings in the JDZ, where it has interests in six of the nine blocks awarded by the Joint Development Authority, the body set up to oversee exploration."

Notice it said buyout "holdings" as opposed to the company itself.

[orangedad]

look like a possible two buyers for erhe.

dad

[bobwill9]

good deal Mark, thank you sir! Did you read this BB?

what in the heck is the author saying when she says "avoid the paradox of plenty" Must be some lib reporter wanting to keep those islanders from gaining wealth and whatever possessions they need.

[Dadd]

We are going to start moving up bigtime. Thx Mark!

[littleBitmoore1]

Thanks, markgovols. I suspect this is true. Sinopec is going to want erhe, too, IMO.

Great article. Good to see erhe in print so favorably and mentioned alongside Addax and Sinopec.

I like this part of the article, too:

"Sinopec, who was up against rival Korea National Oil Co in the bidding for Addax, is keen to move on with its first foray into deepwater offshore drilling. Sources don't rule out an acquistion of ERHC's equity."

lbm1

[claudealain]

So ERHC could still be ERHC after the deal and hold the rights in the EEZ!
GLTA, Claude Alain

[stocks2rise]

did this go out on the newswire?

[printmail01]

Hmmm > "Sources don't rule out an acquistion of ERHC's equity." That makes sense... IMPO I doubt anyone will want , or will be willing to take the risk of buying The entire company outright, it has to much baggage IMO, but buy out the equity in the JDZ then let ERHC "the company" go on its way w/o the current JDZ blocks , then they could dividend out to shareholders a few dollars a share (or more) and or buy some new assets, make a clean start with something new, something that every ABC agency in the US has not put a black cloud of doubt over. Interesting events here with ERHC..... GLTA Happy Posting.

[Jim Long]

Mark,
If you are conversing with your JDA source please consider putting the following questions to him. (If anyone wants to amend/expand them, please feel free to do so.)

"Has the JDA been approached regarding a preliminary approval of an ERHE buy-out or buy-in? If so, is it for one, multiple, or all JDZ blocks? What consummation timeframe is being mentioned? If so again, has there been any mention of EEZ rights along with any of the above scenarios?" (I know JDA has nothing to do with EEZ but sometimes extraneous information just happens to slip out when people are talking.)

Thank you for your efforts and sharing,
Jim