ERHC Energy Inc (ERHE)

[Stay the Course]

You're confusing the poor guy!!!

An analysis like the Netherlands Sewell (NSAI) report starts with a calculation of oil in place based on best availale data and judgments, proceeds to recoverables unrisked and then a risked value of the resource (still a VOLUME in bbl) that allows for contingencies, e.g. chance of no oil at all being in the formation.

It's a bit like Balance Builder's conjectures: if each factor has a 50-50 shot of happening and there are three things that have to happen to make the conjecture come true, then the end result has a 0.125 chance of happening (i.e. a billion becomes 125 million risked).

The discipline of working up such risked and unrisked values is useful in deciding which prospect to drill in a company portfolio and whether it is really worth the risk of doing so. Most everyone recognizes it is certainly not a reliable quantification of what's there, only drilling will tell, but still a worthwhile signal.

And for your ongoing encouragement on this Sunday afternoon, I am aware of two prospects of "Kina like" potential which were $100+million wells to drill and both were busts.

Another poster wisely indicated that people in the industry don't get carried away with the idea of billions and billions of barrels at this stage just waiting to be drilled and ready to be profitably produced!!! It does not always happen that way. LOL. And we have not yet talked yet about producibility, e.g. how apparently big reservoirs sometimes are compartmented and the the field never produces like thought initially.

All just to hose a little more cold water down on the "we are golden" cheerleaders..........

But is is VERY VERY unlikely that ERHE has nothing at all in all its blocks.

I have much appreciated the professional posts from spp119, hope he continues as he does seem to know what he is talking about, is well immersed in the WA scene. IMHO the squabbling with him on this board has been juvenile, just serves to deter further constructive inputs.