ERHC Energy Inc (ERHE)

[Hawk700]

Thanks Longtimer.............

From the article........



""In August Sinopec drilled the Bomu-1 well on Block 2, which has unproven reserves of 274m barrels of oil, and reportedly discovered some oil along with substantial gas reserves. This was followed by the drilling of the Kina-1 well in Block 4 and the Lemba-1 well in Block 3, which have combined unproven reserves of 642m barrels of oil. According to press reports two large gas reservoirs were discovered on Kina-1, leading to estimates of 1trn cu ft on the block, while large reserves were also discovered on Lemba-1. Two more wells are currently being drilled in Block 4, Malanza-1 and Oki East, amid speculation that a further well will be drilled south of Kina-1 to determine the extent of the gas find.

The success of the drilling programme has boosted the prospects of the JDZ, which had been clouded since Chevron's disappointing results from drilling in Block 1. At the time it was assumed that Chevron's find was not commercially viable, but the discovery of substantial gas reserves in the adjacent JDZ blocks has fuelled speculation that Block 1 could contain gas reserves of at least 1trn cu ft-a sufficient quantity to justify the expense of extracting it."