ERHC Energy Inc (ERHE)

[Julius Erving]

If rumours are (even a bit) true,

this is can be called an understatement or downsizing:

"Chevron said it finished its first exploration well, called Obo-1, last week
and is currently appraising samples from the well to determine if it
contains commercial quantities of oil."

But theoretical very true. I remember the fuzz with Shell some time ago about proven and unproven oil.