What we really know is that after HDY's unsuccessful well they regrouped quickly and have about 45 million in the bank, they will be drilling again in about two years from their failed well, they have a full carry on the next well, Tullow is now their JV partner and their operator, the West Leo rig has already been announced and the spud date is Q1 of 2014 when at least one and maybe 2 wells will be drilled.
On the other hand ERHC has no partner, hasn't even begun any exploration work anywhere, they are still at least 2-3 years from drilling anywhere meaning it will be about 6 years between wells, ERHC has no carry and no JV partner and under 5 million in the bank. One company recovered quickly and the other has been fumbling the ball for years since their failure in the JDZ. So once again, I see very little comparison between the two companies. One recovered quickly from their adversity and the other is still stuck in the mud with their wheels spinning.
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