ERHC Energy Inc (ERHE)

[midtieroil]

No. Chad has 700 million in resource estimates which will only occur only if every well they drill there is a discovery. They have money to do seismic let alone drill. The JDZ had about 10 billion in resource estimates and hasn't produced a single drop of oil. Don't confuse resource estimates with reserves. It is a common mistake but they couldn't be more different.

BTW ERHC has to spend 15 million in Chad before the end of June or they risk losing that concession too. They haven't found a partner in years of trying. I doubt anyone will give them 15 million now knowing that ERHC nearly bankrupt and owes millions to CEPSA and the IRS. I know I wouldn't.