ERHC Energy Inc (ERHE)

[midtieroil]

ERHC likely now has under 100,000 in cash left and has no plans to drill another well anywhere anytime soon. In comparison HDYN is drilling one and possibly two or more deepwater wells offshore Guinea that are supposed to spud next month. The drillship is now on its way to the location. It looks like HDYN will retain 50% ownership after their farm out but it could be less.

The first well alone has a resource estimate of 647 million bbls. The chance of success on this well is 31% which is excellent for an exploratory well.

Having said that this could be HDYN's last hoorah. They need to find oil NOW. But, IMO, ERHC already had their last hoorah in Kenya and it was a dry hole. These two have always been an interesting comparison. Let's hope their fates aren't the same.