Saturday, August 27, 2005

Offor A Winner In Nigerian EEZ Bid

On ERHC On The Move had specific information that the company might be a bidder in the Nigerian Exclusive Economic Zone, and today - according to a newspaper report in Nigeria from the well-known This Day Online - we learned that in fact Chrome Oil, owned by ERHC Energy chairman Sir Emeka Offor, was on of the successful bidders.

What is not known is whether any benefit of the award will accrue to ERHC Energy shareholders, as the bid was apparently made by Chrome il, a related company that has only one stockholder, Sir Emeka Offor.

ERHC On The Move revealed that Sir Emeka Offor was one of the bidders in an exclusive report more than three weeks ago. Posters on RB and I-Hug went to great pains to discredit the our report, probably because they were secretly shorting our stock.
Little is known about the bid at this hour.

Here is the relevant excerpt from that story:

Conoil in Historic Win
Petrol now sells for N65, Labour kicks
From Mike Oduniyi and Onyebuchi Ezigbo in Abuja, 08.26.2005


Yesterday’s exercise also witnessed the distribution of Nigerian indigenous firms as Local Content Vehicles (LCVs) to the blocks that were won. The LCVs that clinched slots in the oil blocks include Zenon Jovis Petroleum Develo-pment Company, owned by Mr. Femi Otedola, Chrome Oil promoted by Sir Emeka Ofor and Obat Oil Petroleum Limited.

The full story is at:

No comments: