Replies to post #210332 on ERHC Energy Inc (ERHE)

[Strategyone]

Midtier,

I don't completely disagree with you but on the flip side the results we may have heard might not be better than what we have now. Can you imagine three more blocks like block 1. Sure, we found multiple zones of oil and gas but we can't determine if it is commercial on a stand alone basis. We will now wait for some other operator to take the next step.

Now that Sinopec as the sole operator, with all it's cash and demand for oil, it is more likely ERHE will get news of commercial finds (possibly in both gas and oil) due to their ability to connect the finds over multiple blocks.

Just another way to look at it.

[emdyal]

You were not the only one who had reservations about getting any kind of information from the Chinese. Many scoffed at the mere thought and accused me of racism !

[Jim Long]

midtieroil,
BINGO - You win the prize. I previously posted the exact same sentiments. Last week I grew somewhat discouraged that what I was saying about secrecy wasn't mentally followed to what I see as being the root of our problems. IMO the Communist Chinese (CC) have us tied, bound, and gagged and while they may not sue us if we let slip information they want to keep quite, they (CC) can use delaying tactics, costing us monies each day, and/or have an adverse financial effect with our EEZ efforts.

When we were discussing last Friday's EEL report which referred to SNP hiring a Chinese geophysical company to "reprocess" the data, my radar immediately focused on the fact that the Chinese Central Government not only approves/disapproves the moves made by China's corporations but uses them for subversive purposes. I am leery of SNP and even more leery when they use other Chinese companies to "reprocess" anything. China has plenty of political prisoners who are being "reprocessed" through "reeducation".

I feel like we are trapped and my formula below (which I thinks encompasses our plight) counts heavily on SEO cutting an acceptable deal. The partnerships is now "partnership" and is a farce. The term "potential hydrocarbons" will remain "potential" (not proven) until the CC deem it is time to release the info. SEO is now the only true variable in the formula. IMO

Jim

[tryoty]

You weren't alone...

Posted by: ERHC has proven Date: Thursday, June 25, 2009 4:43:32 PM
In reply to: None Post # of 210382

The landscape certainly has changed...

Chevron will be drilling along side its partner Sinopec in block 1.

Sinopec will be drilling in block 2 and now fully carrying ERHC itself.

Anadarko will be drilling block 3 with its partner Sinopec, who will be fully carrying ERHC itself.

Sinopec will be drilling block 4 and fully carrying ERHC itself.

So our drilling results will be announced by Chevron, Sinopec, or Anadarko; two who hate us and one who wants to buy us. Unless Offor ca "coax" the JDZ to leak results it looks like we may be in for a very long and boring wait.