ERHC Energy Inc (ERHE)

[tryoty]

In 2000 when oil was $30, day rates were as follows...

Based on this data I wouldn't expect day rates to fall below $300K-$350K, This pullback in oil is temporary and the climb will resume again. Rates will fall until the Gandur's of the world flinch and say, "ENOUGH! I'll pay that!".

The Aban was contract at $411K. Gandur will pay the same for a ROO or two, IMO.

Rig Dayrate Delivery

Belford Dolphin $180,000 12/2000
GSF CR Luigs $182,000 03/2000
GSF Jack Ryan $205,000 11/2000
Noble Clyde Bourdreaux 11/1987
Noble Dave Beard 06/1986
Eirik Raude $233,000 12/2002
Pride Africa $163,000 10/1999
Pride Angola $167,000 04/2000
Saipem 10000 04/2000
Deepwater Discovery $170,000 10/2000
Deepwater Expedition $135,000 07/1999
Deepwater Frontier $145,000 04/1999
Deepwater Horizon $275,000 09/2001
Deepwater Millenium $286,500 09/1999
Deepwater Pathfinder $190,000 09/1998
Discoverer Deep Seas $205,000 01/2001
Discoverer Enterprise $182,500 12/1999
Discoverer Spirit $204,000 09/2000
Noble Paul Wolff $155,000 01/1999
Cajun Express $207,300 04/2001
Stena Tay $190,000 05/1999
Leiv Eiriksson $285,000 11/2001
West Navigator $226,000 02/2000
Deepwater Nautilus $195,100 02/2000

http://findarticles.com/p/articles/mi_m3159/is_12_226/ai_n15980038/pg_2

Oil price chart...