Replies to post #160402 on ERHC Energy Inc (ERHE)

[Stay the Course]

No, the best prospect(s) usually get drilled first and depending on results and what is learned some of the next best are drilled.

Does not mean at all that ALL prospects are worth drilling.

It sounded to me that that was what spp was trying to say.

[dat_51or]

Peteman...why would we not need drillships up the gazoo for a couple of years?

One good reason is Addax's budget. Their pockets aren't very deep when a well cost runs $30-$50million each. Drilling expenses have to be budgeted, largely based on income from existing productoin.

Just my two cents...
dat

[midtieroil]

Even if you have separate pools of oil you still learn a lot about the geology of the area with each well you drill. You have to calibrate your seismic to the well results of every single well in order get have the best possible chance of being successful in the next well you drill. This calibration can not happen overnight. It takes weeks if not months to do it. I expect some time period between the first series of wells and subsequent wells. Maybe I'll be wrong on this, but that is what I believe will happen. That is why I said the 4 required wells will be drilled and then there will be some time period to evaluate results before subsequent wells are drilled. And even if you are hugely successful in those first wells you still need time to come up with a production plan and determnine where subsequent wells in that newly discovered field will be drilled. If you've learned anything from this investment I hope that it's that things do not happend quickly. When you are sinking a 100 million or so into a well, you better be sure you have the best possible chance at success.