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Re: TOB post# 262856

Wednesday, 08/01/2012 8:49:05 PM

Wednesday, August 01, 2012 8:49:05 PM

Post# of 361536
FYI petroleum is oil. Period. Hydrocarbons is the term that includes all forms of gas, oil and condensate. Thermogenic gas can be indicative of a petroleum system sometimes. Biogenic gas is not. This is as basic as I can make it. It was extremely bad news when we learned that only biogenic gas was found because everybody knows we were looking for oil or condensate and we got neither. And everybody also news that biogenic gas is NOT an indicator of oil or petroleum. Biogenic gas is, at best, the consolation prize. Trillions of cubic feet of biogenic gas will be needed to make the JDZ commercial. We may get there and have a commercial discovery but the ROI will NEVER be the same with gas as it will be if we find oil or condensate. Gas is NOT what Chevron wanted, it not what Anadarko wanted, it is not what SNP wanted, it is not what Exxon wanted, it is not what Dana GAS wanted, it is not what Addax wanted and it is certainly is NOT what ERHC wanted either. If you don't believe me, just ask management. They will tell you the same thing.