ERHC Energy Inc (ERHE)

[Julius Erving]

You don't get good prices now, that is why I don't understand Offor is protecting his own investment in these dire oil days.

"He adds: “The key area for oil and gas companies is the break-even price, which is the price where the cost of per barrel oil production is equal to the selling price per barrel of oil. A while back the industry required about US$90 a barrel of oil to invest in new projects, but as a result of efficiency brought about by improving technology this number now hovers between US$60 and US$65 per barrel. However, oil production companies also report to shareholders who are looking for a return on investment.”

OPEC producers predict that the oil price could return to about US$70 or US$80 by the end of 2015 as global economic recovery boosts demands."

http://www.standardmedia.co.ke/business/article/2000151106/why-kenya-could-lose-out-on-low-oil-prices

"NAIROBI, KENYA: Kenya and other East African countries are unlikely to significantly benefit from falling global oil prices due to inadequate storage facilities, a new research paper released by Deloitte East Africa has indicated.al oil prices due to inadequate storage facilities, a new research paper released by Deloitte East Africa has indicated."