From a tactical perspective,it makes perfect strategic sense for an acquiring company to take no further exploratory drilling action until such time as it can work a successful acquisition of all the small players(including ERHE)...this absence of action aids in the facilitation of the acquisition and the negotiated purchase price....but only after the full analysis of what is under the ground and quantities( a requirement of both the acquirer and the acquiree)
In other words ,we are past the oil analysis,and kneee deep in the negotiation after knowing what is down there.If negotiations are successful,a 3-6 month time period is actually pretty quick to cover all terms and meet the conditions to prop up ERHE in it's best selling position.
This perspective is no different than selling a desirable piece of real estate.What terms and conditions must be met by the seller to get the best price?
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