We reprint it in its entirety below, and extend our deepest regrets to Mr. Langenkamp, a distinguished Democrat and former Assistant Secretary of Energy, if indeed we have wronged him.
We also got a note from a reader who is worried about the article by the Reuters news agency that ran last week in the Houston Chronicle. We also reprint that note, minus the writer's last name (she is from Houston), and add our response along with a link to the article.
First, the note from Mr. Langenkamp. [We have corrected minor typographical errors]:
Dear Mr. Shea:
Your continued disinformation and prevarications regarding my participation in the inquiry into the Second Round Bid process for the STP/Nigerian JDZ is reprehensible and actionable. It is false and you know it to be false.
My institute here at Tulsa has no "Board" much less one on which Exxon and other oil company executives sit. (The Board to which you seem to refer is the Board of the Institute of Energy Law in Plano, Texas. I on behalf of Tulsa University am one of almost 300 members of that Institute. Like Nelpi it is an educational institute wholly engaged in educational programs.) My work on the Report was undertaken by me in my private capacity on a pro bono basis.
I do not have any connection with any of the oil companies involved in either of the bid rounds nor have I communicated with [any] of them directly or indirectly in any respect. To state that my work on this project was on their behalf is preposterous - and defamatory.
This inquiry was undertaken at the STP AG's request by the International Senior Lawyers Project. The report is a product of a team of lawyers of which I am one. For you [as a] stockholder of one of the bidders to allege a conflict of interest on my part is ironic. Beyond that it is insulting and I demand that you make an appropriate retraction.
It is clear that you, not I, have an economic motive in this matter. This makes your persistent defamation a more serious matter.
r.dobie langenkamp
R. Dobie Langenkamp
Director, National Energy-Environment Law & Policy Institute
Professor of Law
University of Tulsa College of Law
Here is the second letter, from Louise [name withheld]:
Check this out Joe....São Tome says it needs Nigerian OK to end flawed oil deals not good news at all.
Louise
ERHC On The Move responds:It is bad news for Sao Tome, Louise, but of course because the deals cannot be cancelled it is bad news for ERHC Energy only in the sense that it leaves their role undetermined and suspect while casting aside the strong possibility of their innocence.
If you read more closely, you may see that while ERHC has always been controversial there is nothing in the President's statement of a $58 or $59-million" loss that appears to relate to ERHC. And despite this bad news, you will have likely noted that our share price has risen sharply.
This was largely due to the publication of terms of the Addax IPO, but partly to the end of the investigation due to Nigeria's non-cooperation, which I have applauded because I suspect different origins than argued by its sponsors [see above].
Many thanks for your readership, Louise, and please stay in touch.
Best,
Joe
In other items, reader Al [name withheld] would like to see another price-guessing contest. Here's his note, and my response:
Earlier this year you started a contest to seek a board member who could closely determine the stock price of ERHE on a predetermined date. I for one would appreciate a comparable contest at your choosing. Your interest would be appreciated.
ERHC On The Move responds:Ironically, Al, I was thinking of that very thing as I drove home from Orlando this afternoon. I recalled the number of times people wrote me and said they didn't like the predictions, and asked me politely not include them anymore in my posts.
The reason I had included them was that I felt the share price had become very predictable, and that investors ought to have the benefit of it.
Rather than go through a contest again, I will tell you what I think the most recent developments cncerning the probe and the Addax deal will mean: I think our stock is going into the $9 range - probably 20 or 30 cents higher, in fact. When? We'll talk about that later.
Best,
Joe
This came from someone named Mark. My reply follows:
Nice reporting today. Will the Reuters news likely help PSCs get done sooner, in your opinion? Have a great weekend.
ERHC On The Move responds:The uncertainty about the investigation was probably erased when Nigeria refused to cooperate. That news was published about two weeks ago. I do think it might have been difficult to bring the Sao Tome side to the table in the absence of the Report. Now with it, however, there is every appearance it will not be an issue, and I suppose that might add some extra impetus and earlier timing to the PSCs.
Best,
Joe
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