ERHC Energy Inc (ERHE)

[bayfisherii]

Red,


I agree with everything you say except one thing. The 250 bcf of gas in Bomu that you speak of (not sure where that # came from) is valuable, but it is not valuable as a marketable product in that amount and in that location. 250bcf is equivalent to about 250 million decatherms. As of 10 minutes ago the NY spot posting for next month was about $5.51/decatherm. The gas in the JDZ would have a much lower value due to the cost to get it to a viable market.

The real value of the gas in Bomu is as a gas-driver for producing oil from the other zones in the JDZ. It is my very un-expert opinion that there is a method to the drilling pattern and that the reason it took so long to start (beyond the obvious time it took to get deepwater rigs) drilling is the general partners got together and developed a strategic drilling plan. After all per this board this was one of them most seismic researched areas of all times. That could also be why any information coming out is so tight. There could be financial penalties if info leaks out and can be tied to a partner.

Now if they found 20 Bomu's then the gas would have a real value and you would see Shell or CVX come in and partner up with a LNG plant.

IMO,

BayFisher

PS: Mark sorry I did not call the other night, tied up with my 13 years old and football