Replies to post #187486 on ERHC Energy Inc (ERHE)

[brez63]

DG,

I think the reason why "oil experts have not chimed in" is because nobody knows the details. They can chime all day long and get it wrong and therefore loose credibility.

I think the oil experts on this board did the exact thing that experts usually do, say nothing until more details are known.

Cheers
Brez

[dat_51or]

Degen...just an alternative thought: ERHE doesn't have to be the operator of this new field. Remember we're negotiating a financial and working interest - not outright ownership. I'd bet Offor has a good partner lined up as the major owner with ERHE's interest as a ride along junior partner. I hope it is Afren, but could be someone else. More likely it will be a close business associate of Offors. Whoever they are, I'm guessing they are the operator and will be technically competent and also have the finances to get the job done and bring us to production relatively soon. I don't see management getting us into a deal that takes a long time to develop. We need income production soon.

Best to you,
dat

[stocks2rise]

Why are you continuing to trash this deal? We don't know any specifics yet and you are worrying about production taking years! Come on. Get real. It is an MOU with the intent on looking into the feasability of the deal. Nothing more. Until we know more just be excited that management is doing something to enhance our value. That is a big plus in my book.

[tryoty]

Shallow water production cost in Nigeria run about $4/b. That would put development costs around $40M. These are averages and really an extrapolation from the data found here:

http://www.thefreelibrary.com/NIGERIA+-+Foreign+Partners'+Role+In+Deep-Water+Oil.-a0134919860

Not knowing how much of a stake ERHC is seeking or how many other partners there are makes it impossible to even guess about the feasability of this idea... and it *is* only an idea that they are exploring at this point. It's possible nothing ever comes of it, although I doubt that given the recent dissent among shareholder's.

IMO, there's meat on this bone.