If you assume ERHC will sell JDZ assets before oil completion, the following makes it clearer. Enjoy. This exploration can take some time so be patient, realistic and kind here, please. Link below.
"We are working in what we expect to be a large oil field encompassing many prospects throughout the Joint Development Zone," ERHC said in a statement. "Whether one prospect proves to be a major or modest discovery is less important than what we learn about prospectivity throughout the wells being drilled."
Under the terms of a treaty signed in 2002, Nigeria, which is already Africa's largest oil producer, will take 60 percent of all oil and gas revenues. Sao Tome will take 40 percent.
Sinopec said August 18 it had completed the acquisition of Geneva-based Addax. The agreed C$8.27 billion ($7.22 billion) cash purchase -- part of its plans to target overseas reserves to secure future oil supplies -- marked the largest overseas takeover ever by a Chinese company
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