Replies to post #181394 on ERHC Energy Inc (ERHE)

[Strategyone]

maybe that is what is taking an extra couple of weeks????

[spp119]

Strass & Red,

I do not think SEO has any say on DP movements after the start of drilling. The operator decides what to do now, not he. Any possibility of going - "a priori" - deeper than TD, would have been discussed and co-decided before. Should of course, something appear which kindles interest before TD is reached then the operator can alter - "a posteriori" - the arrangement. But only then.


However, there is also something else with respect to this drilling, which may perhaps shed some light on what ERHE/SEO is on about re any possible buyout/or other deals.

Has it not struck people that all the commitment wells on Blks 2,3 & 4 are only due to target the relatively shallow 1,500m, not even the 1,750m at which Obo-1 on Blk 1 was drilled at. Let alone going for deeper zones...

What this says to me, is that the current first round of drilling is basically carried out to substantiate the JDZ geological model and gain greater insights into what is down there. If discoveries were to be made in the process, so much the better. But clearly there is much more drilling to come, to be done with greater clarity and confidence. IF of course, so warranted.

Therefore maybe, just maybe, there is no "deal" of any sort imminent.Why do so now, if you have a good chance of proving up even more oil later.......

....let alone the fact that I am now beginning to (re)think that SEO may even want ERHE to be part of the whole kibboble when first oil start to flow. Lots more $$$ there, than any simple deal now.

Ideas and speculation alone.

spp119

[emdyal]

Of course they would have known about the " possibility of an underlying channel" when they initially decided on a target depth but still predicted 30 days to drill Kina.

But then again there is so much that we do not know about any particular scenarios that may have been built into the drill plans. They supposedly did not have any paricular problems with drilling but barring mechanical problems/ blowouts/ or rock layers that were difficult to drill, they may have encountered results on the way to TD that motivated them to drill to greater depths and thus the additional 2 weeks ?

If anyone had any doubts in the past about the Chinese ability to tight hole information I would guess that they have been put to rest ?