ERHC Energy Inc (ERHE)

[Opus X]

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168665181

Total (TTE) announced the company hit oil at its Venus-1 exploration well in Namibia during February; shortly following the announcement, Upstream reported the find could be "at least" 3 billion barrels -- Tuesday, Upstream sources indicate the find could exceed 13 billion barrels.
If the three sources cited by Upstream are correct, Venus-1 would be the largest deep-water find in history, surpassing the Petrobras (PBR) find at Buzios.
The above resource estimates exclude what Upstream believes could be an additional 20TCF of natural gas; an appraisal campaign is set to begin later this year.
Early indications suggest the well could extend to the neighboring block, where Shell's (SHEL) Graff discovery has shown encouraging results.
Total (TTE) is set to release Q1 results later this week; however, a spokesperson for the firm poured cold water on near-term project update expectations, saying "until such time the appraisal program is completed, there will be no new elements to communicate since the announcement made (in) February."
If a project of this size were to come to fruition, it would be impactful for Total (TTE); however, for Africa oil (OTCPK:AOIFF), a 6% holder in the block, it could result in more than 100% upside to the current share price.