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Non-commercial quantities of gas are worthless. And

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midtieroil   Sunday, 06/03/12 04:34:38 AM
Re: TOB post# 259242
Post # of 303672 
Non-commercial quantities of gas are worthless. And biogenic gas is NOT indicative of oil in our blocks either. I don't care if the wells were tight-holed or not. The reality of the siutation is the results stunk, the value of the JDZ, the EEZ and ERHC stock have plummetted and it is unlikely that the original estimates of oil potential will ever come up to the amount originally hoped for in the JDZ.

To add insult to injury, ERHC's mismagement of its cash has resulted in having only a few quarters of cash left if you take into account ERHC's obligations in Chad. ERHC failed to plan for any alternative to the drilling failure they encountered. This is now endangering the company as we know it. Cash or full carries are mandatory to stay afloat and continue exploration. Right now I see nothing happening on either of those fronts. That is reason to be concerned.

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