Replies to post #188358 on ERHC Energy Inc (ERHE)

[vineseeker2]

John, when they rent a rig for a minimum of 120 days @ $600,000 per day would they not have to pay for the whole 120 days?
Deepwater Pathfinder beguan drilling on 8/27 or 8/26, which would make 120 days sometime toward the end of December by my count. How do the contracts work? When does the charge days start, would it be more than a few days before they spudded the well?

[ssc]

kownski, I would tend to think if they stop drilling after the 4th well either (1)the results are so good and so apparent no further exploratory drilling is needed prior to phase II (in which case we should hear all about it on 12/15), or (2)the results are not compelling enough to justify the cost of a 5th well (in which case it will be a long, long time before the next 4 wells are drilled). Either way, with all the prospects in our blocks, I would be much happier if they continued on to drill #5.

However the story of the 5th well turns out, I would expect it is one question they should be able to address on 12/15.

[RKT989]

so even if we have 150 -200 net pay..we are talking billions of barrels