ERHC Energy Inc (ERHE)

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ONE MORE TIME.... Can anyone please tell me what has changed from "before" to "after" the meeting in relation to the following???


Of course, everyone is excited to learn “what was found during the drilling” and we will share with you what we can today. However, please understand that the “analysis” of the information gathered during drilling “is not complete.”

“Sinopec has authorized ERHC” to release the following information about drilling in Block 2. The well was drilled on time and budget. Before drilling began, the team identified 13 individual sands. The Bomu-1 well was drilled to a total depth of 3,580 meters. After drilling, “eight sands were found to contain natural gas”. Currently, there is not enough hydrocarbon resource for a stand-alone development, but no final determination has been made by the operator regarding commerciality.

“Addax Petroleum has authorized ERHC” to release the following information about drilling in Block 3. The Lemba-1 well was drilled on time and below budget. The well was drilled to a total depth of 3,758 meters. Before drilling, eight individual sands were identified as prospective – two were found to contain biogenic methane gas. While “no determination has yet been made” regarding commerciality, an additional prospect is being evaluated for potential Phase II drilling.

“Addax Petroleum has authorized ERHC” to release the following information about drilling in Block 4. All wells were drilled on time, budget and to planned depth. In both the Kina well and the Oki East well, gas was discovered in multiple sands. It is important to understand that this information is preliminary and work is ongoing to integrate a potential area-wide development.

In conclusion, ERHC has come a long way. We “await the completion of data analysis” of the information gathered during drilling in the JDZ. We prepare for the negotiations of PSCs in the EEZ. We continue negotiations for potential acquisitions. Overall, we are making progress toward realizing the value of our assets.