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07/06/09 1:05 PM

#169676 RE: RUBY1100 #169662

You're showing some confusion here, Ruby and S2R. The comments you refer to were NOT made by the Prime Minister, but by the head of the Nat'l Petroleum Agency (ANP), Luis Prazeres. Though important, he's simply a bureaucrat. He's NOT a policy-setting member of the Govt.

The STP Govt has NOT issued any statement saying it is contesting ERHC's EEZ rights or that it's out to shaft the company.

IMO, everything indicates it was the Portuguese news agency (Lusa) that telephoned Prazeres, seeking comment on his previously unannounced participation at the Denver gas/oil conference. NOT the reverse. When asked about ERHC (always "good news copy" 'cause of the inherent controversy), Prazeres began by saying he expected STP to recognize the company's rights in the EEZ. And THAT'S GOOD NEWS, y'all!

He went on to say STP could try to "mitigate" what it has always considered the unfair/unequal accord with ERHC, BUT that did not strike me as a primary threat or indication such is STP's focus of concern in the EEZ. IMO, Prazeres, who's likely not accustomed to getting phone calls from foreign journalists with probing questions, was simply putting a best/brave face on an embarassing reality.

I think STP is anxious to get on with the show in the EEZ. I don't believe Sao Tome is looking for a showdown. I think the rules of the EEZ game have changed with the alteration of the oil laws. I don't believe the changes are directly aimed at ERHC.

I'm convinced the company has its eyes open to possible fallout. I doubt it's in panic. Or that there's any reason for such.

Bests,
HP

Tamtam

07/06/09 2:13 PM

#169691 RE: RUBY1100 #169662

I wrote DK a mail too and am afraid there only a small chance DK will answer as this was what I got on my question if ERHC management will PR their reaction on the latest STP developments
I will be away from the office from Saturday, July 4 through Saturday, July 11 with only periodic access to e-mail

Tamtam