Replies to post #259663 on ERHC Energy Inc (ERHE)

[2IRAs]

My understanding is that the other partners' shares all revert to ERHC, not the JDA. Then ERHC can farm them out again. Since we get to choose the owner, we would only choose someone who would carry us. Thus the popping of champagne corks. Now we have all this "valuable data" for free (if they really walked) and can look for a new operator (Total probably I guess) From the FAQ:

"The operators’ decision is expected to be made public at anytime. In the event of the operators terminating their involvement in the Blocks, the participating interests we transferred to them would return to us and ERHC would be able to seek new operating partners for the JDZ Blocks. It would be similar to what occurred in 2005 when our technical partners at the time, Devon Energy Corp., Noble Energy Corp. and Pioneer Natural Resources relinquished their JDZ rights and ERHC replaced them with Addax and Sinopec."

[steelwundrin]

Even if Blocks 1, 2, and 3 results equalled the NSAI estimates, we would not be talking about adding a lot of value to our stock price. I am telling you Pete, the juice is in Block 4 according to NSAI, Addax, and ERHC estimates. No one should get worked up over Block 2, and I haven't perceived that in your comments. It would not have meant much even in a perfect world. I'm a little surprised that Block 4 hasn't been a hot topic. Now if everyone walks on Block 4 I will lose my 401(k). That will be a different story.

[TOB]

No, 78% does not become available. The percentage from Sinopec and Addax reverts to ERHC. So there is only 35% on offer to a new operator, ERHC gets its 65% back. So it is necessary to deal with ERHC to gain more than 35% of JDZ-2.

My main worry is TOB saying Blk2 is totally different geologically from Blk1 so that even success in Blk1 doesn't necessarily bode well for Blk2

Strangely, I had a post near complete talking about the JDZ-2 geology. I think they already believed this, as was written on the Equator site two years ago. The question was whether the gas discovery(s) could be commercial stand alone IMO.

But likely the two wells in JDZ-1 gave some confirmation of the geology and any new theory and calibration of the DHI.*

*Actually near certain considering the passage of time and the new operator.