ERHC Energy Inc (ERHE)

[Southern Man]

458 million barrels of oil = The Kina prospect is situated on Block 4 of the Nigeria Sao Tome and Principe Joint Development Zone (JDZ), between Nigeria and the Republic of Sao Tome and Principe in the Gulf of Guinea. Addax Petroleum serves as the operator of the prospect and holds a 45.5% interest." Updated last month!"

In March 2009, Addax signed an agreement with Transocean for the provision and operation of the Deepwater Pathfinder drillship to conduct exploratory drilling in Block 4. The contract entailed for the drillship to drill a total of four wells at a day rate of $600,000. Several months later, the operator announced drilling commenced on the Kina prospect, which is estimated to contain 458 million barrels of oil.

Kina marks the first location to be drilled in Block 4 of the JDZ, which spans an area of 211,700 acres (857 square kilometers) in water depths ranging from 5,906 to 7,218 feet (1,800 meters to 2,200 meters).

http://www.subseaiq.com/data/Project.aspx?project_id=517