ERHC Energy Inc (ERHE)

[farrell90]

If you got out at the 70 cent range after the JDZ drilling; you should feel good about getting back in now for 5-6 cents. At a nickel a share ERHC is an interesting speculative investment. The bottom line has always been ERHC needs to discover oil. Most of the below is from memory and almost certainly has errors, but it will be a good place to update your DD.

We have 4 interesting possibilities.

1.Kenya Great development with the Cepsa buy in. Cepsa is a large Spanish based oil company bought out completely by a Dubai group. Cepsa has had a long history of interest in Kenya. In fact it was probably unfairly shut out of by the Kenyan government when Chinese tied up a most of blocks a number of years ago.The Chinese are gone now. Cepsa has the resources to have bought or bought in to any of the smaller companies with blocks in Kenya. IMO it is a good sign they pick ERHC and our block. An air based geologic scan, FTG, has been completed. After seismic is completed we can look forward to an exploration plan. Seismic has just started and assuming the seismic is promising the first well is probably 18 mos or so away.

2.Chad The company is looking for a partner in Chad to move forward with seismic and exploration. ERHC has reprocessed some old seismic studies. It has released 2 less desirable Chad properties. The surrounding area is a rift area similar to Sudan in geology, but smaller fields. Our neighbor in Chad ,Carcaral, hit a couple of good wells recently. Carcaral was bought out a few weeks ago for 1.3 billion. And, that buy out price is probably the best measure of ERHC's potential in Chad.
http://www.bloomberg.com/news/2014-04-14/glencore-xstrata-agrees-to-buy-caracal-energy.html

3 EEZ ERHC is negotiating with unknown oil companies regarding its EEZ blocks. Nephete stated block 11 has Cretaceous possibilities and stated the fields could be similar to Tullow's Jubilee field.

4,JDZ The JMC has indicated STP and Nigeria are going forward with JDZ development with new SSR technology. They will need new partners or a recommitment from our old partners to move forward.More details from kindpindg:

http://translate.google.com/translate?hl=en&sl=pt&u=http://www.aplop.org/sartigo/index.php%3Fx%3D31728&prev=/search%3Fq%3D%2522sao%2Btome%2522%2B%2526%2B%2522petr%25C3%25B3leo%2522%2B-%2522senegal%2522%2B-%2522saudi%2522%2B-%2522samoa%2522%2B-%2522dobras%2522%2B-%2522dobra%2522%2B-%2522ein%2Bnews%2522%2B-%2522tatamkulu%2522%2B-%2522oilvoice%2522%26sa%3DX%26hl%3Den%26noj%3D1%26biw%3D1280%26bih%3D590%26tbs%3Dqdr:d

Here is a recent summary by Nephte:
http://erhc.com/articles/april-2014-discussion-with-ceo-peter-ntephe/