Replies to post #240904 on ERHC Energy Inc (ERHE)

[razoroil]

Great post! Agree unless we get bought out prior to that and who knows? If no buyout, we all have a long time to wait! All IMO.

[umbra]

Thank you DG. Your posts always recap a situation quite nicely.

Patience indeed. They could drill for IT and finds billions of barrels within us all.

Cheers -

[vineseeker2]

DeGen, just to let you know your post are being read I'm responding. In my opinion the block 5 & 6 negoation has been drawn into the whole JDZ forward plan. I believe those two blocks and the block 2, 3 & 4 situation with the 25% give back is part of what is going on. Would you want to relinquich 25% of the acreage before you were absolutely certain where all the oil/condensate/gas is? I don't think SNP wants to either. JMHO, but I believe SNP has found enough in the five wells to keep their interest in the JDZ. I think Total is leading the way with its two block 1 wells, this doesn't mean the JDZ is full of oil, but I think SNP has found enough indications they are not ready to give anything up.
My not complaining about management doesn't mean I am happy with their performance. I just don't think changing would bring anyone more competent into the picture. I believe Peter was chosen for other qualities and whoever replaced him would be chosen for the same reasons.

[emdyal]

Yes and the Chinese are all about assets. Chinese owned "Asian Pulp and Paper" own "Excellence Paper" of Vancouver who in turn bought "Northeren Pulp" in Nova Scotia. They are cutting the forests to make raw pulp which is then shipped to China to make a finished product rather than doing it in Canada. So in effect they are shipping jobs out of Canada.They are smart and they are ruthless.
But the point is that the Chinese are where there are assets to be had. So is that a good thing for ERHE or would they black hole information to screw the small players to save billions ? Guess the jury is still out ?

[emdyal]

Once the intentions re phase 2 for blocks 3 @ 4 are annnounced your comments may be more valid. I prefer to hold out some hope that the 1 year extension will not apply to all the blocks. One can also hope for some positive developments re the EEZ.

I also think that morbid projections about the time frame to production of any hydrocarbon are groundless. All that matters is a clear indication of presence of hydrocarbons. From that point the market and the sp will take on a life of their own.