Replies to post #259668 on ERHC Energy Inc (ERHE)

[JohnnySticks]

TOB - If I understand you correctly,

- The JDA can shop the relinqished 35% of JDZ2 and keeps the $$ proceeds

- ERHE is now the defacto operator of JDZ2 with 65% - albeit with limited current funds available

- ERHE keeps all the drilling data from phase 1 and is NOT liable any longer to SNP for its proportionate share of (EDIT - JDZ2) phase 1 drilling costs - regardless of any future oil events

- If ERHE finds a new partner within JDZ2 - a new PSC needs to be completed

Thanks for any comments/clarifications

[midtieroil]

I guess some people still think that after SNP walked, Chevron walked and Exxon walked that the JDZ is still as valuable as it used to be and will still command a full carry from anyone that wants in. I am NOT one of those people. The value has declined precipitously and ERHC will be lucky to find anyone that still wants in.