ERHC Energy Inc (ERHE)

[vineseeker2]

The contract for the drill ship was for four wells by Addax. At the same time they needed to drill three wells to meet their requirements for block 3 & 4. Block 2 was drilled by SNP with the Sedco 702. Addax CHOSE to drill an optional third well in block 4, at the same time Addax had another block in the area they were required to drill by this spring, I believe may 11 was posted.
JMHO, but I believe addax found something in the first two wells in block 4, that made them elect to drill the optional third well instead of meeting their contract requirement for the other area block.