ERHC Energy Inc (ERHE)

[Nightdaytrader]

Andy Brown

"So, this is clearly 1 for Thore. I think what's exciting is this is the first sort of deep water well in Sao Tome. So this is -- this opens up the potential for a lot of opportunity, but Thore, give us some color to the exploration well."

Thore Ernst Kristiansen

"Yes. Of course, we are really excited about this because this is truly frontier. It has been an area where many of the leading companies in the industry wanted to farm in. We have had been in the luxurious situation that we could choose partners. We have a very strong partner now in Shell in Sao Tome. We are drilling, we spudded on the 25th of April and moving rapidly ahead.

What is really exciting in Sao Tome is that, since it is the frontier play, and Galp is an owner, not only in Block 6 where we're drilling right now, we're also an owner in Block 11 and in 12. We actually see 10 to 12 additional prospects that then potentially could work if this works. But there is a lot of ifs there. This is frontier drilling with high probability of failure. But if it works, it can really be interesting. And I would be a little bit careful of being too precise on this first one. But it's certain where we're drilling right now could be a standalone development if it works."