Replies to post #8447 on ERHC Energy Inc (ERHE)

[vip1999]

That is what I thought! what is this 18.5%???. on top of that - 65%-30% = 35%(share by both company that would be another 17.5%)

therefore block 2(65%), ERHE would have 17.5+25.5= 43%
and block 4(60%), ERHE would have 17.5 + 21.25 = 38.75%

[balance_builder]

Wx....I am lost on the math as well. My figuring comes up with the same number you came up with.

I did, however, fully understand this remark:

"The JDA, along with the governments of both countries, is keen to cash in the signature bonuses and ensure exploration drilling starts this year."

.....and this one:

"Both Noble and Pioneer, in partnership with ERHC, are understood to have almost finalised joint operating agreement and production sharing contracts for blocks 4 and 2 where they were awarded operatorship with combined stakes of 60% and 65%, respectively."

So....PSC's almost finalized and drilling expected to commence this year. Not bad. Not bad at all. But the math still has me confused.