And what happens if ERHC gets a partner along with minimal cash and a minimal amount of carries? Several blocks have only resulted in deals which carry predrilling costs and no well costs. Others got some cash and no more than a single well carried. I just don't see where ERHC's deal is going to be substantially superior to deals that are already completed and I would seriously question why anybody believes ERHC's deal will be better.
Bottom line is that I believe a successful farmout deal will keep ERHC alive for a while. But is not a cure all for this company or even close to it. ERHC still will need more cash and they still will need partners and cash to move forward in other blocks and perhaps to even move forward in the Kenya block. Saying this will be a panacea for the EEZ, the JDZ, Chad and everything else that ails ERHC is simply not accurate. We are still years from drilling anywhere and much more will be needed.
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