ERHC Energy Inc (ERHE)

[Stay the Course]

Balance: Before you all work yourselves into a lather in the expectation of new found wealth, that same article also said . . . It took four wells before the full extent of the Akpo field had been proven.

From the discovery well it is common for some rearrangement of plans to drill the appraisals and say 90 days each, maybe one to two years to reach the point that Akpo development plans might be firmed up. I do not know the details of Total's actions, but you get the idea.

Then sanction to proceed with the development, and maybe 4-5 years to first oil in a major ultra deep water development like this.

In ERHC's context, an earlier post today reiterated how ERHC is obligated to let its partners recoup their costs from "cost oil", e.g. Sinopec and Addax are entitled to the Company's share of cost oil until they recover the Company's costs
Which means more time until revenues show up in a 10Q from ERHC.

All of this assumes that the exploratory wells in ERHC's three blocks to be drilled in the next 12-18 months show commercial results. That is optimistic, even tho seismic is good might take a while, and more wells, before showing commerciality in any one block.

Back to watching my grass grow . . . and I hope watching a lot of green grow.

And enjoying reading the content and often valuable insights and source documents on this board, plus chuckling at the bickering and flashes of humor.