ERHC Energy Inc (ERHE)

[Art2004]

Bayfisherii, The dull, boring truth is that even Addax does not expect to find Elephant Fields in the JDZ. They have publicly stated that they expect to find multimple commercial resevoirs, but not stand alone Elephant Fields.

Chevron moved its Sao Tome offices to Angola soon after Obo-1 was drilled. Trust me, that had nothing to do with any of the reasons you put forward.

Chevron already produces oil from the "Agami" field near to OPL291 of Addax. That field is expected to go to 200,000 barrels a day. They share another large field with Exxon in Nigerian waters. Chevron and Exxon have several producing wells in Angola and other countries in West AFrican waters.

Sorry, but the JDZ is not the center of the deep ocean oil world or even the Gulf of Guinea.

I am confident that Addax will make good money on the JDZ blocks and ERHC and ERHE will go up considerably though $4-5 a share seems like a great price target to me.

Those are the simple truths for why the majors are not trying to buy into the JDZ. They have other good producing wells and other good prospects.

That's why I don't expect any big deals for Addax or ERHC until at least after Addax drilling in the JDZ produces known results.

Nothing too mysterious in the above explanation.