Krom, you are not wrong in finding oil in Kenya. As you know the well was exploratory in it's nature.
They were looking for information that could be useful going forward in the block and that is what they found along with two oil shows.
The disappointing part was they were looking to find more oil shows than discovered. 66 million is hardly commercial for a company the size of Cespa. Who knows maybe, they believe they have discovered less than thought.
Assuming that they found what they believed to be 66 million and 50% of that went to taxes, that would leave 33 million barrels of which Cespa would get maybe 17 million barrels and have to carry ERHE'S share until paid. This would be hardly worth the effort for Cespa.
In any event it is my belief that Cespa will be drilling the 4-way roller target as proposed when the Starcrest rescue plan for EHRE is put in place.
The Nigerian are one of the most politically resourceful bunch in all of Africa and will not let theses hydrocarbon assets slip out of their control.
Let's Go SEO, Pete, The management team and ERHE.
Keeping the faith.
People should do their own reseach as I could be wrong, but I do not Think Soooooooo!!
Sneak
