ERHC Energy Inc (ERHE)

[Nightdaytrader]

oldoil, for STP EEZ Block 6, even though GALP was the "operator," they didn't have the technical expertise and experience needed for the engineering associated with the drilling/exploration. That was really done by Kosmos Energy.. then Shell came on board, and then, because of the oil price crash, and Kosmos cash flow financial crisis, Kosmos withdrew and Shell finished the job.

I can't remember but I think the drillship spent almost 100 days at the JACA-1 location and they found nothing? Seriously? I think Shell is probably hiding the truth and waiting, to try and take over the rest of the STP EEZ blocks from GALP, ERHC, Kosmos, etc, at a much lower price.. The supermajors have the money and can wait. Especially now that they (Total and Shell) have so much money going into new Namibian development fields..

ND9