ERHC Energy Inc (ERHE)

[bsk2007]

Balance thanks for the good job you do.

I rated Addax a "B" because they have never drilled at these depths before. Even though they are taking advantage of all the latest in deep water technology, the fact remains they have yet to drill in an ultra-deep arena.

I am encouraged by the fact that they have defined their shortcomings and are not afraid to spend the money to address them.

If I had rights to drill in deep deep water, I personally wouldn't use Addax unless I had no other choice. Experience has taught me not to be someone's guinea pig even if they sound like they know what they are doing.

I have learned to not even trust myself to fly solo on something I have never done before. In the long run it's cheaper to hire someone who knows what they are doing and learn from their expertise.

This is why I am hoping Sinopec will bring in Chevron or Shell. They need to learn from a company who knows what they are doing.

I would have preferred to stay with companies like Noble and Pioneer because of my risk tolerances. However, I do believe that in time Addax and Sinopec will become world class ultra-deep operators.

Because our drilling partners will be learning on the job we have to expect some rookie mistakes, especially from the Chinese. They have stretched themselves so thin by making so many promises of development that I hope they don't turn Africa into a disaster area.

bsk