ERHE, had absolutely No Say in the JDZ Exploration Wells that were drilled by the block's Operators and that my Friends is the Absolute Truth.
ERHE had No experience drilling a deep water exploration well FACT!
ERHE had No experience reading seismic data that could possibly identify any Geological deep water Hydrocarbon targets. They believed Anything that someone with experience would tell them FACT!!
ERHE had absolutely No skin on the game as they had a free carry until production FACT!!
The block operator was not going to let a novice like ERHE tell them how to select, drill and spend their $300 million dollar exploration budget FACT.
ERHE has chosen one completely incompetent company to drill the JDZ and that was SNP as they themselves lacked deepwater experience as the Operator of the Exploration efforts. FACT!!
CESPA was drilling only to see if the Kenya exploration well they drilled tied back to the larger target in the center of the block as Cespa was looking for a Uganda or Southern Sudan type of discovery FACT.
As the Operator of Kenya block 11A, Cespa deemed the Exploration Well Non-Commercial even through ERHE had claimed two Hydrocarbon Discoveries with one in excess of 100 meters FACT.
A 66 million barrel discovery in and of itself is not a commercial discovery for a company the size of Cespa. With a 55% share of any discovery and 50% of thier cut going to the government, there was not enough money for a company the size of Cespa to be interested, thus the well is non-commercial FACT.
In Closing, ERHE is all about the Hydrocarbon Assets and nothing more in My opinion so please conduct your own research in case I am Mistaken.
I keep buying every chance I get!!!
Food for thought, Could ERHE be Partnering with Total Fina for Exploration of EEZ BLOCK 4!!
Shhhhhhhhhh!! Please conduct your own research in case I am Mistaken.
Have a Wonderful Weekend!!
Sneak-attack
