ERHC Energy Inc (ERHE)

[tryoty]

I don't want to poo-poo anyones predictions...

lord knows I love reading them, but I'm beginning to think
we will not hear anything until June.

Before you blast me, think about it... obo-1 took 61 days to drill. It is RUMORED that obo-2 was started March 29th. To me that indicates obo-2 won't be complete until the end of May.

ERHE is not going to sell it's portion of the straddle to Sinopec until it has a darn good idea what is done there. And while I disagree that it's even an option, Sinopec is not going to sell it's part of the straddle to CVX/XOM until they have a darn good idea what is down there.

Even after obo-2 (if it is even being drilled) they may not have a complete picture.

I'm not saying we won't get a PR saying obo-1 indicates recoverable in excess of 1 bbl. Maybe even raising that to 2 bbl after obo-2 results are analyzed in June. It took 4 wells to prove out AKPO's 1 bbl, if this is bigger as suggested by a few, I would think they'll need 6-8 wells to accurately prove it.

With all that said, why are we talking about deals when logic dictates that the block 2 consortium sit tight until the unknown becomes known?

I'm not saying we won't know anything until 2007, remember, we have a rig headed in there this summer. We'll have proven oil soon enough, but this watching the clock tick-tock expecting news at any time will just drive you crazy. I don't think news, at least not reserve estimates, is anywhere near being released.

Yes, that is a shift from my past views. It just makes more sense to me.