ERHC Energy Inc (ERHE)

[midtieroil]

More than likely those are unrisked resource estimates based on 2D seismic and very limited 3D. Not a single well has been drilled there which means not a single bbl of oil has been proven.

I don't know if these type of statements are by reporters that don't know any better or if they are done to promote a stock in which they have an interest in.

In either case, this is the type of thing that happened in the JDZ. Unrisked resource estimates based solely on unreliabe seismic and on a 100% success rate on every well drilled magically becomes proven reserves. It would be nice if it were close to being true. But it isn't. Resource estimates are not proven reserves.