ERHC Energy Inc (ERHE)

[ERHClongtimer]

Great shareholder update from ERHC!

There has been a lot of discussion on the board as to when ERHC will announce a partner for EEZ Block 11. But aside from the announcing of the PSC signing for the block, I think the presentation on the prospectivity of Block 11 posted last week is the other major noteworthy item of recent, and I am surprised there has not been any discussion about it.

If the interpretation shown on slide 24 is anywhere near reality, Block 11 could hold possibly billions of barrels of oil:



When you are talking about a block in which you can fit ALL of ERHC's JDZ blocks more than twice over, that means a lot of oil.

Peter has gone on record saying:

Our preliminary studies indicate that there might be a significant cretaceous play in Block 11. Basically, we’re talking about something similar to what we’ve seen in the Jubilee Field offshore Ghana. That’s what our geophysicists have concluded based on the spot seismic that currently exists. There are definitely structures that they see, which form a cretaceous exploration play.

The total proven reserves of the Jubilee Field is currently about 2 billion barrels of oil. It is in a much smaller area:



The partner ERHC signs (or has signed) and the consideration they receive from the contract will be telling. But based on their presentation, it certainly gives reason to expect some favorable terms.

I have to say, ERHC has been moving with a level of confidence recently that I have not seen in years past. - LT