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DegenerateGambler

07/25/11 12:02 AM

#244053 RE: kobiashi2000 #244051

Kobi, you indicate, the terms won't remain hidden forever.
Would you define forever please. Is a fortnight longer than forever?
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kobiashi2000

07/25/11 12:08 AM

#244054 RE: kobiashi2000 #244051

I meant if ERHC's legal counsel advised Ntephe who is also a lawyer that it would not have to disclose a material definitive agreement in which ERHC traded rights in the JDZ/EEZ for the Chad blocks with the government of Chad or any other oil company or entity that even in the subjective world of determining what is material, and that's the reasonable man standard, I don't think there is a reasonable man in the world that would say that trading the only asset ERHC has for another asset is not material and would not need to be disclosed because we all initially invested in ERHC for the JDZ/EEZ, not Chad, and anything that changed our initial motivation to invest in this company would be material and have to be disclosed, that's an easy one, and any reasonable man, any lawyer, and any judge is going to agree with that. While on the other hand if none of the obligations that ERHC is now bound to under the PSC with Chad jeopardize the company as a going concern anytime in the foreseeable future or the JDZ/EEZ rights, well, in the subjective world of trying to figure out what is material, well a reasonable man could say that's not material and does not need to be disclosed.
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ERHClongtimer

07/25/11 12:47 AM

#244057 RE: kobiashi2000 #244051

Kobi, what is your take on ERHC's 50% interest in Chari Ouest Block 3? Do you think it is a portion of the original block (excluding OPIC's acreage) or the entire block?
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umbra

07/25/11 6:38 AM

#244061 RE: kobiashi2000 #244051

Sorry Kobi...I was using the term "swap" obviously too loosely.

But thanks you for your reply to my question to 'midtier'.