Replies to post #244049 on ERHC Energy Inc (ERHE)

[kobiashi2000]

There was no swap, if there was that would be material detail even in a subjective world that ERHC's legal counsel lives in and would have had to have been disclosed. The only material terms in that PSC that I think would have to have been disclosed where if ERHC was trading some of its existing JDZ/EEZ rights or its obligations under the PSC could possibly bankrupt the company, other than that ERHC's legal counsel doesn't risk disbarment and malpractice by opining that the terms do not have to be disclosed at this point in time. Further if there was a material definitive agreement in place where ERHC assigned its rights in the EEZ or the JDZ to another company inorder to receive the Chad blocks, that agreement and its details would have had to have been disclosed as well, even in the subjective world of what is material, ERHC's legal counsel would not risk disbarment and malpractice for opining that that kind of event was not material and did not need to be disclosed. Take Ntephe at his word, ERHC has enough cash to handle its obligations under the PSC at this time, and while this board has a wild imagination there is no deals being cut to trade rights in the JDZ/EEZ for the Chad blocks. But, as I've stated before, ERHC will disclose the terms of the PSC, the terms won't remain hidden forever, and we'll still have 100% of our current assets.

[midtieroil]

I would love to answer your question but since we have NO idea about what we have in Chad or its prospectivity I really can't answer the question. And apparently managment can't either. This is getting ridiculous.

If such a deal were on the table, don't you think we would have heard about it by now? It's really not that great an idea to obtain the blocks and have no operator signed on to drill or operate. That puts us in the position of having to find somebody which could take quite a while. I just do not believe this is a shovel ready project.