ERHC Energy Inc (ERHE)

[midtieroil]

Any production from presalt in the EEZ is probably 10-15 years away. Nice to think about but of no real significance to this investment at this time. Production from any other play in the EEZ is 5-10 years away. This, at least, is a close enough time frame to attribute some value for ERHE. Realistically, I'm here for the JDZ because I have no confidence in STP ever getting their exploration program off the ground and all the opportunities there are pretty far in the future.

And if you think my estimate of 10-15 years is too long, I can tell you that any drilling testing those depths offshore STP would be among the most expensive wells ever drilled anywhere in the world. A LOT more testing will be required prior to any drilling to test that horizon offshore STP. Again, fun to think about, but of no real value right now.