ERHC Energy Inc (ERHE)

[vineseeker2]

Julius, the first well in Akpo was drilled in 2000, it was suppose to come into full production in 2009 or early 2010. However you count it that is at least 8 years from the first well drilling to start of production. We have money for five.
Unless we get Totals expertise involved and can cut development lead time we need the marginal field income. The FPSO was started in 2007 and delivered in 2009. I didn't see any drill ships setting around waiting for contract the last time I visited rigzone, in fact I was surprised at the number of long term (at least five year) contracts listed on the listed drill ships. Akpo was 42 wells at 30 days average each we are talking almost four years, with running casing, over four years of drill ship time. I am unsure if five years cash is enough. We need to add a safty margin through our EEZ blocks the marginal fields or maybe revenue from a oil servicing company, maybe from all three, to insure we make it till money starts to flow in from the JDZ.