Replies to post #255453 on ERHC Energy Inc (ERHE)

[badog]

emdyal...
Respectfully, I'm sure you are frustrated with the current sp but you have to keep a clear perspective here. Ntephe can promote the EEZ to those willing to look...but he can't make them participate. Those looking may want newer, better siesmics in order to make a decision. Maybe the current siesmics are just not conclusive enough. These things are all relative and it is probably hard for other CEO's to go to their boards and shareholders and present giving a free ride in deep water without a pretty conclusive picture. Remember, if the prospects in the EEZ were an easy sell, Ntephe would have potential operators beating down the door...and SNP would probably be first in line. But if SNP is not interested...and Total is not interested...then who? I'm sorry, but critizing managment will not fix anything...it's just venting.

Badog

[tryoty]

What do you think the CEO of a micro-company can do to speed up the backwards Government of an isolated West African island nation?

For the most part I share your frustration and agree with some of your opinions, but I cringe every time I see you make this argument. There is little even behemoths like Exxon or Sinopec can legally do to "move" these Governments, and absolutely *nothing* the CEO of a minnow like ERHC can do other than foster friendly relations, which Ntephe is doing. On the other side of the coin, you can't generate IOC interest with fluff, they use hard data to make decisions. The EEZ has limited seismic to evaluate. Nothing Ntephe or anyone else says can change that. ERHC has two choices; try to get a partner now with limited seismic and sacrifice a huge percentage and little or no farm-in fees for carry, or wait until they can shoot additional seismic. With additional seismic they might find that the data creates a stampede of interest where they can keep a larger percentage and collect large farm-in fees, but they also risk the seismic showing that the blocks are uninteresting and rendered nearly worthless.

The EEZ is a tough position for ERHC to be in, especially given its cash position. When you feel frustrated and demand action, consider the saying, "be careful what you wish for, you may get it".

I want everything to move faster too, but it has never worked that way, it doesn't work that way, and it never will work that way. Sao Tome will set the schedule for their oil exploration in their waters. Until the *people* of Sao Tome get fed up with the pace and vote accordingly, it will continue at the pace set by the current Government. Additionally, the IOC's set the schedule via their interest or lack thereof in ERHC's blocks. There is little Ntephe can do about that.

In all of the perceived negativity above, Ntephe seems very upbeat and making statements that the future has never been brighter for ERHC. What he knows that we don't is driving me nuts! There had better be a golden egg somewhere to justify his optimism.