ERHC Energy Inc (ERHE)

[Strategyone]

If I had to take an educated guess I would say that it is 4 wells with 4 well option simply because the next contract signed (Addax consortium) is a 5 well with 5 well option.

BUT...I disagree with the estimated time per well that most are throwing around here. If I recall correctly, it was origanally guessed or PR'd that the OBO-1 well would take 30 - 60 days. I think we got the first analysis around 45 days with the final PR coming out at about 60 days. That was weeks of analysis after the well was completed. We may not here the official results of a well drilled for 60 days after it starts but I doubt the rig hangs around for analysis before moving on to the next site. My educated guess is 45 day average including moves between spots in the JDZ. (IMHO)

Although, ERHE price will likely advance greatly from here well before we get the analysis from the first well so even if drilling in 2H of 2009 or later, it will ramp up prior too (again IMHO).

Good luck all yee patient ones.