Replies to post #25802 on ERHC Energy Inc (ERHE)

[rheddle]

G Oil D - I don't agree at all.

Why do you think that ERHC ended up with such a good deal in the first place? It is because Nigeria wants to enjoy more of the revenue from its resources than just allowing the oil majors come in, pay their fees, drill the oil and make most of the profit from it.


You say that "CVX will end up with the majority of control of ERHE. Sir EO will sell out to them with an offer he "can't" refuse."

Sir Emeka Offor is pretty much synonimous with the Nigerian government in this case and, as the Nigerian government wants to make more money from its own resources and EO is bloody loaded anyway (and probably wants the power and prestige associated with controlling a significant future player in the oil industry), EO is unlikely to sell out.

I'm not selling my shares either, but not because I would only be satisfied with the gain resulting from a buyout.

Cheers, R.

[badog]

G-Oil-G,
My original fear was Chevron buying Chrome and gaining 42%, then buying an additional 9% on the open market to end up with 51% of EHRE. Don't know what would happen then except maybe pushing the EHRE shares into CVX common stock at an exchange rate applicable at the time.

The reason I would not like it is that they could offer 'Offor' a fabulous deal for Chrome but somehow it would not translate to our stock price. Haven't analyzed the possibilities yet. Not a CPA. Maybe someone else would know. Not even sure if this would be legal...but I do believe it's possible.

Badog

[Platina]

G-Oil - I Gladly trade my ERHE shares with CVX for our Rights; I'l settle for 1 for 1 LOL