ERHC Energy Inc (ERHE)

[DegenerateGambler]

I am very appreciative of this on going discussion of how quickly or how long it takes to evaluate the drilling results and when these results will be announced. Officially, it has been stated the drilling results will be announced in the 4th Q. Although two wells have been drilled and vague results have come out, there have been no official results from these first two wells from Sinopec or ADDAX and IMO no official results for these first two wells will be announced until all FIVE wells are completed and analyzed. I expect the last well to be finished sometime in December and at least several weeks of "analyzing" before ANY official results are released. This assumes Sinopec does NOT tight hole the information after the analyzing is complete. If that happens, there is no telling when official results will be announced. The above information is based mainly on what Midtier has been saying. I have a strong belief that Midtier is spot on in what he says about how an oil field needs several weeks before an accurate determination can be made as to whether the field is commercial. Midtier is calling it how he sees it is not trying to hype us up with possible early drilling results. The big boys at Sinopec/Addax need to look at the entire picture and that will take AT LEAST all five wells, if NOT MORE. There is a good chance that after these five wells are drilled Sinopec/Addax will conclude that they need to drill EVEN MORE wells to determine if any of these fields are commercial. Wouldn't that be a kick in the butt if we again had to wait months/years for a ROO to provide additional information about whether any of the fields commercial.

Yes, Krom, I AGREE with that there is a risk out there and that is why the SP is where it is today and will probably not be going up for months. How big a risk is questionable, as we know there is oil, but not how much. Yes, the market HATES uncertainty and that is where we are right now, uncertain about how much oil there is and uncertain about being a commercial find.

Ps: I am NOT a oil person, but have tried to absorb the great information provided here by those who are in the business and so graciously share there knowledge with this board. A tremendous thank you to all of you.