Replies to post #323855 on ERHC Energy Inc (ERHE)

[midtieroil]

LOL. Shell dumped 7 BILLION dollars in the Alaskan arctic, drilled one dry hole with oil shows and threw in the towel.

The myth that CEPSA spent so much on Kenya that they couldn't possibly drill one dry hole and leave needs to be debunked. I just did. Everyone needs to read the link below to understand. No rational oil company is going to throw good money after bad chasing oil that doesn't exist.

What was spent in Kenya was a pittance for a company like CEPSA. And the fact that they have NOT moved to the next exploration period in over a year and that the deadline has passed speaks volumes. CEPSA is likely sticking around to collect their 10 million. Who wouldn't?


http://www.wsj.com/articles/shell-to-cease-oil-exploration-offshore-alaska-1443419673