ERHC Energy Inc (ERHE)

[RUBY1100]

Big oil firms struggle to find new reserves

LONDON/NEW YORK, March 17 (Reuters) - Big U.S. oil firms
more than matched the oil and gas they pumped last year with new
finds, while European rivals failed to, but the underlying
performance of both reinforced fears the industry is short of
attractive exploration opportunities.

The following are the reserve replacement rates reported by
some of the largest listed western oil firms, as calculated
under rules stipulated by the U.S. financial regulator, the
Securities and Exchange Commission:

Reserve replacement rate

Percent

Exxon Mobil <XOM.N> 112

BP Plc <BP.L> 95

Royal Dutch Shell <RDSa.L> 67

Total <TOTF.PA> SA 95

Chevron <CVX.N> 175

ConocoPhillips <COP.N> 230

ENI <ENI.MI> 40

Statoil <STL.OL> 102

BG Group Plc <BG.L> 120

Repsol <REP.MC> *

Norsk Hydro <NHY.OL> 85



* Repsol did not publish a reserve replacement rate. The
firm announced a 25 percent cut in its reserves in January,
implying a negative reserve replacement rate. Analysts
calculated an organic rate between 10 and 15 percent.