ERHC Energy Inc (ERHE)

[midtieroil]

I keep hearing this myth how onshore is so much cheaper. That is not really true. Deepwater offshore targets are usually in the billion bbl range while onshore are far smaller meaning you must drill more wells for the same production. It matters little if you drill one well for 100 million and target a billion bbls or you drill 4 wells for 25 million each targeting 250mmbl for each well. Look at how many wells Africa Oil and Tullow are having to drill in Kenya right now. You'd NEVER see that number of wells drilled offshore. Single wells are much cheaper but total exploration costs are not. That is why a lot of companies still drill offshore. If what you say was true, nobody would be drilling offshore and the majors would all be in Kenya already.