anp announces 10th round

Anp has announced that the 10th round of auctions to be held on 22 December 2008. All permits that where offshore have been removed. The auction will involve only mature onshore exploration blocks. Wonder if phil and the team are going to register and buy blocks 100% for erh. Block 330 cost our partners only $30k in the 7th round. Block 430 cost $60k. Interesting is that block 429 cost $700k by 50% petrobras and petrolgal SA (Portugal oil company). Block 59 and 138 only cost just over $10k for our partners. Prices in the 9th round look like they have doubled from those levels.

After the capital raising, erh has the money to buy into exploration blocks 100%. That's maybe why all technical personnel of the company are in Brazil at the moment.