ERHC Energy Inc (ERHE)

[Krombacher]

one well drilled on shore *is* cheaper than one well drilled off shore. That is self evident.

Now you are correct that one off shore well can yield billions of bbl while one on shore well only yields millions of barrels.

But remember that this is about PROFITS.

The basic profit equation is Profits = Revenues minus costs.

If revenues are lower on shore but so are the costs, then you can still derive a great profit.

Also, the risk on shore is far better because better seismic data available.

Krombacher