Replies to post #252333 on ERHC Energy Inc (ERHE)

[midtieroil]

Well at least they are finally getting serious about farming out these interests. Their "virtual" data room was a joke. It seems like they are finally opening a real data room, putting out some offering circulars and are following a path that gives them at least some chance of being successful in doing this.

The terms of the farmout are still very much in doubt though. Can they find a JV partner who can operate these properties or build an internal operating organization from scratch? If so can they get full carries? And finally can they get anything over and above the full carries to sustain the company while we gather seismic, and plan for drilling?

Still lots of unanswered questions.

[Krombacher]

That's actually disappointing news. Why would they advertise they need someone in the EEZ and Chad if they already were in serious talks and were close to lining someone up?

Unless advertising for partner farm ins is a formality requirement of some contract, (I doubt it), it STRONGLY suggests they don't have anyone with serious interest yet.

So all of this talk about monetizing CHAD in the first quarter of 2012 seems like wishful thinking. In fact, without any definitive serious interest, I don't understand how the CEO of the company can make a statement of "we expect to" monetize the darn thing this year.

Annoying to say the least. And now, not only do I need to 100% discount Chad along with Exile as not bearing much fruit this year in the way of cash...but I also have to bring to question a farm in for the EEZ any time soon.

This has always been about the JDZ. With every week that goes by with the Pacific Sirocco in Usan increases the likelihood that there will be a phase 1 extension, since SNP won't have the time left to do any analysis of Total's data by the deadline.

Furthermore, it now appears to me that the April 24 AGM was not planned or designed to release chunks full of good news, if that were the case, then they would have had a better grasp of the Chad and EEZ situation, and not have a need to advertise. They also would have been privy to SNP's thinking moving forward, if their plan was to release good news on April 24, and they're not (apparently) because in their latest PR they state such by highlighting 3 scenarios that can come to pass.

So it would appear that April 24 is more a routine AGM, which is fine, we need to have routine AGM's, but it will not likely be an AGM full of good news (at least it does not appear that it was planned that way).

If I thought we had no man's land between mid March and April 24, then now I am thinking we will have no man's land between now and Sept, when a second 6 months extension, if granted ends.

Time will tell I guess,

Edit - and the big question is, therefore, where are they going to get the money this year after their expenses and Chad royalties or fees or whatever the money paid to Chad is called. They will be out of money in short order.

Krombacher - the above are all hypotheticals and thoughts and may be inaccurate.

[kingpindg]

IMO that was not from on any advertisement from ERHC. Just something put together by the crack reporting team at Derrick Petroleum based on info from the shareholder update.