ERHC Energy Inc (ERHE)

[BuffaloTrader]

As is the case with so much "information" here, that statement is now incorrectly being attributed to ERHC. No statement suggesting an oil discovery was ever made by ERHC. The company revealed in April 2010 that no oil was found. Anyone can find historical prices using Yahoo's tool. It shows the stock price at $0.46 at the time of the announcement that no oil was found.

http://finance.yahoo.com/q/hp?s=ERHE&a=03&b=1&c=2010&d=03&e=30&f=2010&g=d

The "expected quantities" statement was originally attributed to Luis Prazeres, the executive director of the NTP-STP.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44508444

JDZ News: STP Nat'l Petroleum Agency (ANP) chief tells Lusa JDA and company representatives informed the JMC at weekend meet of "1st phase" drilling results in Blocks 2-4, offering "good perspectives".

Oil was found in "expected" quantities and "much gas" in one block, acccording to Luis Prazeres.

Prazeres: "In Block 2 some oil and much gas was found. There are hydrocarbons in the other blocks. Now the companies are carrying out lab tests and additional evaluation wells may be drilled for confirmation.

"They said the quantity (of oil in blocks 3&4) was the expected. They didn't say if it was a lot or a little. The companies are very conservative at this stage of drilling and reserve information."