ERHC Energy Inc (ERHE)

[kobiashi2000]

I realize you're being facetious, but unlike CVX, Addax can't sit on the blk for 4 years with no production. I expect production on blk 4 within 2 years if not sooner. Addax has a track record within offshore Nigeria of 15 months to first oil from time of license granted to 8 months of producing oil from the day of discovery. I have also read that in the deep offshore companies such as Petrobras have been able to produce first oil in as soon as 18 months from time of license, and this was done many years ago. The technology has only improved, and Addax is hungry and needs production asap. I'm not sure about 2, but I'm sure that the JDA allowed ERHC to bring in a new partner because Sinopec promised a fast track to production, it is also notable that Sino and Petrobras have a partnership in place to work together on deep offshore drilling. So, while it might be 2010 for blk 1 because CVX doesn't need to rush to production because they have 100s of simultaneous projects around the world in which they need to spend resources on and can't devote it all to just blk 1, that is not the case for blk 4 in which Addax can devote the majority of its resources too, and I expect blk 4 within 2 years and probably 2 as well. With 3, I have no idea because we are at the mercy of Anadarko for exploration on that block.