ERHC Energy Inc (ERHE)

[badog]

Krom...
I agree with you...and I would have done the same thing.

The problem with this line of thought, as you indicated, is if the first report was lackluster then it does not bode well for anticipation of further drilling IMHO.

I know...some will say it has no bearing on decisions to proceed to Phase II...and I am not an oil professional...not even an oil slug...but it seems that a Sinopec JDZ project manager would have a hard time convincing those above him to proceed if the preliminary drilling was lackluster...and the report was the same. Again, I am assuming that is why Exxon...and even Chevron bailed on block one. Had thier first drill been encouraging they could have drilled another hole...then another. This could have put them in the position to either develop block 1...or sell it for a lot higher price. Instead...they bailed.

Badog