ERHC Energy Inc (ERHE)

[mromro]

Krombacher,

Firstly, apologies for the lack of paragraphs. Secondly, you are wise not to trust mgt, apologies again for having a 'mgt vibe' it was not my intent. I specialise in this part of Africa oil and gas business so am just offering "a view" of the info availble.

I don't know what post-drill figures might be for oil, but certainly unless you find some with the drill your 'chance of sucess' number (25%) will drop for the remaining prospects, so I would expect the post-drill oil numbers to be significantly lower. On thermogenic gas I havent seen any PR confirming it yet, so I am not certain why you are convinced it is there. I agree that would be a major positive. Same on condensate. Why not ask them again? I'd like to know myself. It's pretty easy to tell from the mud log report within a couple of days of drilling what the C1, C3, C4, C5 makeup of the gas is.

On ONGC's exit, they said so themselves: they stated it block 2 was relinquished after drilling and not showing commercial quantites of hydrocarbons:

"Though the well showed presence of hydrocarbons, the volumes were inadequate to warrant a commercial development. The Company has communicated its intention of not continuing the block to the Operator. ONL’s share of investment, inclusive of the carry obligations to A & Hatman, till March, 2010 was approx USD 25 million, which has been written off."

I dont know any cases of ONGC and Chinese companies in partnership.

Also I have no idea about SNP and ONGC's LNG capabilities. I do know that LNG facilities in Nigeria are owned by Shell, Total and Agip.