Wednesday, May 31, 2006

ERHE Investor To Appear On CNBC's Jim Kramer Show

A well-liked regular poster on I-Hub who goes by the nickname jdubs will appear on the popular CNBC show "Mad Money" with host Jim Kramer next week, he said.

The topic of the discussion beteen jdubs and Kramer is expected to be Chevron's battle with China for oil resources, particularly in West Africa, and more particularly in the Nigeria-Sao Tome and Principe Joint Development Zone, where ERHC Energy is a large equity-holder with China's number two explorer, Sinopec, in Blocks 2 and 3, and with Addax Petroleum in Block 4.

Chevron has said it does not know whether a recent find it made in Block 1 is "copmmercially viable," but publications from the Wall Street Journal on have said the discovery is a billion-barrel find.

By apparently concealing the true nature of the find from the Nigerian and Sao Tomean authorities, Chevron may reduce the potential price it and others would pay
for Blocks 7, 8 and 9,, which have yet to be licensed.

Sinopec is far more likely to be honest and forthcoming about any finds it makes - as a Chinese government company it has a different publicity agenda - and could win over Nigeria-DSRTP authorities by going public with any finds in Block 2, which are expected this year.

Sinopec would also be free to talk about any "straddle" of the midline between Block 1 and 2, a topic that has been widely discussed on I-Hub. The straddle is said to be significcant, and would mean that bother Sinopec and ERHC start earning royalties from the oil under treaty provisions before they have even drilled a well. Chevron would extract the oil from ther reservoir that straddles the midline and charge theexpense and income to the Block 2 partners.

The poster was expected to be on today, as we earlier reported, but a CNBC producer called with a last-miunute change, jdubs told ERHC On The Move:
Just a note to make sure you caught the change in schedule concerning my call in on the Cramer Mad Money show.

His producer, Ben Rippey and I spoke at lunchtime today via phone and he told me that they would rather use me for a show on oil and gas and that this afternoon's show was on emerging markets.

I told him that I've already told my friends and family I'd be on and he said that it'd likely be next week now. (Which is good, so I can collect my thoughts.)

ERHC Energy CEO Walter Brandhuber said in a recent email that the company will be profiled on CNBC in June or July as it mounts a European "road show" to attract investors.

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