Replies to post #100873 on ERHC Energy Inc (ERHE)

[Art2004]

For Sao Tome, more complete results from the British Geological Survey (BGS) and PGS of Norway with more up to date seismic data would probably be in oder before announcing bid rounds for the EEZ during 2009.

Nothing like the present optimistic seismic results to encourage investors (NOT!)

It's the Sao Tome business acumen and marketing genius at work. (NOT!)

I do not believe there are any conspiracies among large oil companies to keep the biding cheap for the blocks. What would Sao Tome gain?

Hopefully, the new seismic data will be more complete and more optimisitic.

[MichiganNative]

I didn't find the following part of the article the least bit encouraging.
"“There is no certainty, but the probability of finding oil is 8.36 percent in the 18 areas identified,” said Symons, adding that test drilling had reached between 2,400 and 3,000 meters."

Probability of finding oil...8.36 percent?!!!

[cash2blow]

If there is "no certainty, but the probability of finding oil is 8.36 percent in the 18 areas identified"

then how can 'oil experts' be "unanimous at the seminar over the existence of petroleum in Sao Tome’s waters"

and stating that "it is as possible there is oil as there is not, so we need to wait for test drilling to confirm it"

It would seem the decimal point in 8.36 percent should have been shifted to the right - otherwise the previous comments appear to be contradictory.