![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Saturday, March 20, 2010 4:26:14 PM
Wasn't it the same situation for APCO? One drill didn't show enough on it's own...but I assume it was enough to encourage them to drill more? After drilling more they found it was enough to substantiate the infrastructure.
In Chevrons case I would guess that I'm safe to assume the first drill was not enough to encourage them to drill more...like APCO did. Chevron has nearly a 70,000 acre block...with several potential prospects. Block 1 was thought to be the best block of the bunch...and Exxon bails before even drilling a second well? Now Chevron? That's where I thought there is something wrong with this picture. Exxons bail-out price did not indicate to me that this was a block that they had any interest in. And the price that Chevron gets from Total will probably confirm this IMHO.
That's why I have to think that the first well was not encouraging at all. I assume that Chevron and Exxon have a war room with projects on the wall...where they meet and decide which ones to keep and which ones to bail on. When they bailed on OBO-1 I was shocked. So does that mean that it's one of their worst prospects?
Well...that's their business...not mine.
Badog
Recent ERHE News
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/06/2024 07:31:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/08/2023 09:06:42 PM
FEATURED Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM
HealthLynked Expands Telemedicine Nationwide • HLYK • Jul 17, 2024 8:00 AM
Peer To Peer Network aka Mobicard™ Launches AI Investor Chatbot Boosting Engagement & Lead Generation on Ihub • PTOP • Jul 15, 2024 8:30 AM
Greenlite Ventures Announces AI Integration into No Limit Platforms • GRNL • Jul 15, 2024 8:00 AM