Kojira......I've been asked about this company numerous times......I'm still reading tidbits here and there......let me summarize a few of my concerns.
They are small players in over their heads with respect to experience and capital requirements.
Nigeria is notoriously corrupt.
The data referenced is old 2D seismic often unreliable at best most Geophysicists work with 3D and 4D seismic. For you cyber folks it's like comparing an Atari computer running DOS basic....with a P-4 running Windows XP.
The stock play as I understand it is...... Exxon/Mobil will buy them out.....my premise is....if Exxon wanted the tract they would outbid ERHE et al.
I have history with these folks as Enviro Remediation.....I was unimpressed then and remain so today.
I'm willing to look at meaningful data. I'm not an expert....I do have a 30 year oil and gas operating and brokerage history. I also consult for some small OTCBB energy startups some of which also have history with this company.
There are many solid energy company's with real reserves.....FXEN, XTO, Anadarko, Devon, Encana are a few to consider.
all the best,
ole bub
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