ERHC Energy Inc (ERHE)

[Nightdaytrader]

When oil crashed a few years ago, Kosmos Energy had a cash shortage and basically gave up the vast majority of their planned future exploration blocks. That included giving up their STP EEZ blocks, Namibia, Suriname, South Africa, etc, etc, and including EEZ Block #6 (JACA), where they had done most of the well design work for GALP.... Yet, Kosmos kept STP EEZ Block #5, and they fought ERHC and Total over Block 4... Why? Go back a few years, and look at the old Kosmos Energy presentations... They are currently producing oil, offshore, Equitorial Guinea.. They identified more prospects to the west, in Equitorial Guinea waters. They also identified prospects in STP EEZ Block 5... and some of their old charts, even show prospects in STP EEZ Block 4 (although on map, they didn't name the block, just showed prospects)... So Kosmos believes the oil basin is from Equitorial Guinea, west through STP EEZ Block 5, and further west to STP EEZ Block 4... If they really thought Block 6 was full of oil, they wouldn't have sold it to Shell.

JMHO
ND9