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midtieroil

07/17/13 11:53 AM

#276093 RE: emdyal #276092

Resident subsidiaries are almost always formed when you start doing business in a new country. Usually the country requires and it is done for other legal reasons as well. Nothing out of the ordinary here.
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tryoty

07/17/13 1:19 PM

#276095 RE: emdyal #276092

Every block ERHC has is owned by a separate subsidiary... they have always been structured that way.

From the 2010 AGM presentation...

http://www.slideshare.net/dpkpr/erhc-2010-agm-management-presentation

Slide 33: