ERHC Energy Inc (ERHE)

[ERHClongtimer]

Tryoty, in line with your timeline... some select comments from Peter's April interview:

What are you seeing so far along those lines? (proving up assets)

The FTG confirmed our earlier assessment that the basin extends into our Block and even showed us that the extent of the basin is larger than we expected. So the FTG heightened our understanding of the specific subjective prospectivity of Block 11A without regard for what others are finding in nearby Blocks. We expect that when we are finished doing our seismic we will be able to identify specific leads and prospects, upon which we will tell the story of the asset and get the market excited based on the specificity of the geoscience of our own Block.

What are the chances that CEPSA will forgo 3D seismic and forge ahead with drilling?

It depends how well we can identify leads and prospects based on 2D seismic. If the 2D seismic highlights sufficient leads and prospects we might go onto drilling. So basically, what we are looking at for the next year is that we will finish seismic work and would be making plans for drilling or prepare to start drilling by the end of 2015.

Let's hope they see some good shows with the 2D and can fast track drilling like Tullow did.

Whatever happens, I am looking forward to ERHC's "tell[ing] the story of the asset and get[ting] the market excited based on the specificity of the geoscience of our own Block." Perhaps they will tell us more about the areas of interest circled below (my annotation) in the western part of the basin. - LT



P.S.: More info on where this seismic line is in Block 11A can be found here.