Replies to post #187615 on ERHC Energy Inc (ERHE)

[YankeMike]

Perhaps spp119 can explain why, legally, that EEL gets to pick their 2 Blocks before we pick our 2 Blocks.
Keep in mind though that the EEZ Blocks are divided into 3 different zones. So basically we'll get 1 Block in Zone A and 1 Block in Zone B.
Mike

[kobiashi2000]

This might be a big ado about absolutely nothing, as is the case 90% of the time on this board. But, under the STP agreement with ERHC, ERHC has picks 4 and 5. Which means that STP has reserved picks 1-3, they can certainly give 2 of those picks to EEL if they so choose, and they have, the problem is that our agreement with STP states we have the right to put our 2 15% choices in any blocks of our choosing, the problem is that if EEL has 2 100% blocks and they pick 2 and 3, well, how do we get our 15%'s in there if we want to? That's the legal issue, that I'm sure STP and ERHC are clearing up prior to the EEZ licensing. I see that Chude Mba is back on the ERHC payroll, he was instrumental in the negotiations and renegotiations that led to our current rights with STP, I believe he was brought back in to clear up the 15% problem, since he has a fantastic relationship with the STP side.