ERHC Energy Inc (ERHE)

[petemantx]

I believe the timeframe (as 5 years or so from lining up partner) is based on the magnitude of the monies being spent and the need to make sure the drilling is in the absolute best location resulting in mgt going slow and making sure things are as right as can be arranged. It seems they take a long time to assess seismic data, we know the delays to get rigs, etc. so with the knowledge that they would like to make money as soon as possible there is obviously a lot more behind the scenes work to do than most of us not familiar with such developments realize resulting in time requirements we cannot fathom. Don't like it but we have to accept it for the way business is currently done. Maybe new technology will make drilling near foolproof and timeframes can be sped up accordingly.

Look at the time it takes to plan and build a large custom home and then scale that timeframe up to the size of investment found in the oil patch and the timeframe becomes understandable.