They didn't get a result of "significant oil." They got a result of "significant oil shows." See my post about that. PN knows that this statement in the PR means nothing but he also knew that many ("greedy") Americans would interpret this statement as saying there is significant oil.
ERHC said it was based on preliminary data. You tell me why they don't have final data months after the completion of drilling. I believe I know the reason.
WOW, this awesome news dropped the PPS to a record low position. Looks like most investors were knocked down by millions of converted toxic debts. Those debt holders did not believe "SIGNIFICANT OIL", they just keep selling, and converting more shares, keep selling.
News 
Market Data 
Discover 
