ERHC Energy Inc (ERHE)

[seek the light]

Sounds like Hess may have hit a big one.

Hess Discovers Paradise Offshore Ghana

Date: Thursday, April 28, 2011


Preliminary results from Hess Corp. have drilling on the Paradise Prospect offshore Ghana resulting in a discovery. The company said that it struck hydrocarbons while drilling the Paradise prospect on the Deepwater Tano Cape Three Points Block where it holds a 90% interest.

The Paradise Prospect is located in 6,038 ft of water. Hess, partnered with Ghana’s GNPC, is carrying 100% of the well cost.

While the company said that the results are preliminary, intermediate wire line logs indicate that it has thus far encountered 370 ft of net hydrocarbon pay in two separate intervals. The current plan is to drill an additional 1,100 ft to test a third stratigraphic interval, reaching a total depth of around 16,400 ft.

The company said it still has around two weeks of drilling left and it's too early to speculate on how big the find is.

http://www.petroleumafrica.com/en/newsarticle.php?NewsID=11426