ERHC Energy Inc (ERHE)

[ssc]

The news came out on 6/15. Maybe one of the mods could sticky post it so anyone who missed it or forgot about it have an easy reference:

CEPSA, ERHC DISAPPOINTED AT KENYA’S BLOCK 11A TARACH-1 WELL – SOURCE
June 15, 2016 in Top News
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OilNews Kenya has learnt that the search for oil and gas at Tarach-1 in Kenya’s Block 11A has not been successful and works are ongoing to plug the well according to a reliable source.

The drilling that commenced on 14th April 2016 using the SMP 106 rig in the north western block in Kenya targeted to drill from a 20-inch surface casing through intermediate casings down to 2,442 meters and set a seven-inch liner down to a total depth (TD) of 3,000 meters.

The Tarach-1 prospect’s mean estimate of oil prospective unrisked resources was 66 million barrels.

OilNews Kenya cannot however verify whether any hydrocarbons were encountered during the drilling.

Following this new revelation it is unclear whether a planned second exploratory well , the Egole-1 a four-way rollover closure onto a Northwest – Southeast trending fault plain with mean prospective resources of 101 million barrels of oil will continue.

Egole-1 had earlier been planned to follow shortly thereafter although as Oilnews Kenya previously learnt a success at Tarach-1 would lead to a second well.

The news if true casts a dark shadow on upstream activity in Kenya with no further wells expected till late 2016 when Tullow Oil and Africa Oil will resume activity in Blocks 10BB and 13T.