ERHC Energy Inc (ERHE)

[midtieroil]

I think Exxon probably knew Block 1 was the best block. After all, they did find oil there, just not enough to be commercial. I'm fairly sure Exxon didn't want to spend 100s of millions drilling dry holes in other less prospective blocks.

But I know for a fact that Exxon would have had a far, far better chance of finding oil in the other JDZ blocks than Sinopec/Addax. And so would have Anadarko, Devon, Pioneer, Noble or many other oil companies who are far more technology advanced than the Chinese are.

Like everything else, China steals whatever technology they can, but they are still far behind Western companies technologically.

ERHC foolishly letting those companies walk because they thought they were getting a better deal may have been the most foolish thing they ever did. And they've done an awfully lot of very foolish things.