ERHC appears to be a one trick pony now. You only need to look at the inactivity in Chad, in the JDZ and in the EEZ over the last few years to see the truth in that statement. The only game in town right now for ERHC is Kenya. Many years of no partner in Chad and the EEZ. And no activity in the JDZ. Also, oil shows were seen in HDY's first well, not so in the JDZ for ERHC. So, HDY's miss actually proved the existence of oil in those blocks while ERHC's drilling did nothing to show that oil even exists in their JDZ blocks. It appears the only thing lacking in HDY's drilling was the seal to trap the oil while the thing lacking in ERHC's drilling was the existence of any oil at all having found only biogenic gas. So HDY's prospects of eventually finding oil went up and ERHC's went down.
Also, HDY has multiple play types within their Guinea concession including turbidite fans which Tullow has compared to their largest discovery ever in Jubilee, offshore Ghana. And MULTIPLE fans of that size have been identified and two are being worked up for drilling. There are also Neomonian Carbonate plays and several other plays which makes this area diversified in and of itself.
I think at one time ERHC was way out in the lead when it comes to where they stood compared to HDY in terms of drilling time frames, cash on hand, prospective resources, carries, property owned and just about everything else. I no longer see that as being the case. ERHC has now fallen behind and has a lot of catching up to do. And they need to start NOW if they are ever going to catch up. What happens if this LOI falls through? That is a question that has not yet been answered. Let's hope it won't have to be answered.
Market Data 
Markets 
AI
