ERHC Energy Inc (ERHE)

[Nightdaytrader]

Krombacher, you could be correct, but honestly, I don't think so...

As you well know, this is a new frontier and the first well for STP-EEZ. Shell is going to need to study the drill results (testing, core, sidetrack, etc) in their onshore laboratories.. They are going to want to compare the drilling with the seismic analyses they did before hand..

Shell will also need to discuss results with GALP, the STP Govt, and others like Total and possibly Qatar... Shell will want to put together a bigger, more comprehensive plan on how to approach the STP EEZ (& possibly JDZ) with Total, maybe Qatar, etc. Shell will probably want to talk to Kosmos about EEZ block 5 and ERHC about block 4. Shell will also need Govt approvals, permitting, environmental plans, Shell mgmt authorization and resources ($, hardware, people, schedules), and an engineering plan for extracting oil from this deep water, etc, etc, etc,. Shell wasn't even sure they would find something and so I can't believe can could even go into "beginning" production operations. Just not possible. Any future operations are going to take time to plan.. Shell might even want to have more seismic studies performed...

Of course, the good news is that Shell is de-risking the STP EEZ and now Kosmos Block 5 and ERHC's Block 4 are worth even more...... and possibly ERHC's share of the JDZ.

No point in debating further. We disagree but time will tell. Hey, if you're right, I'll be happy so no issue. At this point, all is looking good.

JMHO
ND9