ERHC Energy Inc (ERHE)

[balance_builder]

Huge: I don't care how Dan Keeney tries to mask this comment made by Sinopec on their website with their (read: Sinopec)approved translation (again, the translation was approved via Sinopec as the translation is located on their website):

"In 2009, one of our main activity is on BOMU-1 well in JDZ-2 Block, Nigeria, including drilling-geology designing, engineering designing, analysis-while-drilling and researching on post-drilling reserve appraisal. The well gains a commercial oil & gas flow. It was the first breakthrough in oil and gas exploration in SINOPEC’S oversea deep water drilling operation."
http://english.sinopec.com/about_sinopec/subsidiaries/oilfields/20080326/3024.shtml


Breaking it down we learn that the JDZ B2 Bomu-1 well was a big deal to Sinopec. ("one of our main activity is on BOMU-1")

We know that the discovery was significant enough that they performed post-drilling reserve appraisal. ("researching on post-drilling reserve appraisal")

We know, based on what they told us, that they have considered this well to be commercial. ("The well gains a commercial oil & gas flow")

We know Sinopec considers this well to be their first breakthrough ever in their overseas deep water drilling efforts. ("It was the first breakthrough in oil and gas exploration in SINOPEC’S oversea deep water drilling operation.")



But just as importantly, ERHC told us in their filing:

Block 2
"No final determination has been made by Sinopec regarding commerciality."


Block 3
"No determination has been made yet regarding commerciality."


Block 4
"This information is preliminary and work is ongoing to integrate a potential area-wide development."

Seems they were trying to ascertain whether or not the B2 discovery was commercial when the said "no final determination has been made yet regarding commerciality". By the sounds of Sinopecs comments....they have NOW appraised this well as commercial. That, my fellow investors is down right exciting.


Now we know what Sinopec thinks of B2 and why Dan Gralla told shareholders at the shareholder meeting in April:

"sinopec will be back soon for additional drilling"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49512861

......and this was offered by SPP119:

"...after drilling another well nearby on Blk 2."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=42254892



All said...Dan Keeney can say the meaning could have been lost on translation but I want to point out that the translation is on Sinopecs website and Sinopec is a publically traded stock on the US NYSE. They (Sinopec) knew exactly what it said when they put it on their website for U.S. investors to read.

It has been my impression that the 6 month extension period was for the purpose of ridding the zone of the minor players to ease the transition of unitization.

http://library.findlaw.com/2002/Sep/23/132513.html



Again....we're down to hours (in my estimation) for breaking news that will get the ball rolling.....all to be followed shortly, of course, by Gomers excited one word chant. What does commercial in blocks 2 and 4 mean for shareholders??? It most likely means a giant AKPO and a multi block development plan being led by Sinopec and Total and....and....a party in Vegas for those wanting to meet up to celebrate.