Emptynestor, good post, I agree, especially this part, " IMO SEO is trying to make a bigger footprint in the Nigerian oil arena. The only thing he can do right now is to scoup up small marginal fields, he will continue to do this to give ERHE a bigger presence in the Nigerian oil community thus making it a better acquisition for Sinopec. Sinopec needs SEO to get EEZ blocks, marginal fields etc. right now. This will continue until
Sinopec feels a strong enough footprint is stamped by ERHE, then an acuisition will take place. "
After much thought, I do like the marginal field approach. Isn't that how Addax got going several years ago ?? Isn't it a profitable sidetrack ?? It is and also comes with favorable tax consequenses, I believe.
Like most successful endeavors, it is auspicous to have a two thronged attack, even is one throng dwarfs the other. For a college basketball team to be good enough to reach the Final Four, that team's offense better have more than one way to score points, besides their defense getting points off turnovers. That team had better have one or two bigs with their backs to the basket, who can either score or kick it our to the perimeter. On the perimeter, they better have a few great shooters who can drill the trey.
A good football team should be able to move the chains with some out patterns, but they must also have the skill set for the fly patterns.
So, ERHC is well advised to add the shallow game to our deep water game. This way they have the short game and the long game. I'm looking forward to see SEO recruit the shallow prospects.
It never hurts heading to the bank consistantly making deposits while our long game ( JDZ and the EEZ ) continues to line up.
JMO
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