Let's see how it all plays out. After a large area 2D shoot they may have potential partners banging on the door if the results look good.
When ERHC moves slowly, as in the JDZ, you call for their heads. When ERHC moves onshore with a much quicker timeframe, two wells within two years, you call for their heads.
See the pattern? It doesn't matter WHAT they do, you will call for their heads.
That's frustrating.
As for ERHC operating and producing oil, I don't see it right now, but I can see that changing over time. I see them doing what they have to do to show the blocks are worth exploring, and then bringing a partner onboard. It really isn't any different than what they did in the JDZ. None of the companies involved in the JDZ did the seismic shoots, WesternGeco and PGS did, and they analyzed the data and produced volumetric estimates on the prospects.
ERHC is going to be balancing how to retain the largest percentage they can all while floating as few new shares as they can. Maybe this is where Ntephe finally wins you over. LOL!
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