ERHC Energy Inc (ERHE)

[ponzi_implosion]

It is my understanding that the operators committed to drilling wells in order to meet the minimum work requirement for the JDZ / JDA.

The operators invested in purchasing the rights to drill and committed to a certain number of wells, its logical that they carry on. Additionally, it is not uncommon to see a 30% 'duster' ratio. Drilling these wells is part of a larger program that is not dependent on the amount of oil / hydrocarbons encountered (or not) in one particular well.

It will be interesting to see how this shakes out. The press release on the first bit of drilling was not extremely encouraging. Compare that press release to the recent press releases about the huge oil discoveries (1 well each) off of Brazil and in the Gulf of Mexico. I would think that if the well had been a resounding success, the JDA would have made a big, big deal out of it. But, who knows?

Regards

P