Replies to post #211340 on ERHC Energy Inc (ERHE)

[YankeMike]

Posted by: YankeMike Date: Saturday, February 14, 2009 7:07:17 PM
In reply to: None Post # of 211342

I just wanted to clarify something that was discussed recently. The 14.4B barrel figure was not for the entire JDZ; it was for Blocks 1 through 9. Also, it was only for the 17 "prospects" and did not include the 39 "leads". Furthermore, the 14.4B figure refers to the "combined recoverable reserves potential of the 17 prospects".
I am aware that it is old info, but I just wanted to clarify those points.


In 1999, Geco-Prakla (now WesternGeco) shot a 2D seismic survey of approximately 5,900km covering the major part of the JDZ. Interpretation carried out by WesternGeco has enabled the identification of 56 prospective structures within Blocks 1 to 9 in the JDZ, of which 17 were defined as prospects and 39 as leads. WesternGeco used reservoir parameters similar to those known from nearby fields in Nigeria and Equatorial Guinea. Combined recoverable reserves potential of the 17 prospects was estimated by WesternGeco to be 14.4 billion barrels of oil. The scope of the WesternGeco report was to interpret and map seismic data, highlight prospectivity, and calculate volumetrics.

The estimate of "recoverable reserves potential" is based on WesternGeco's report, which interpreted and mapped seismic data, highlighted prospectivity and calculated volumetrics. It did not include any attempt to comply with any SEC definition of reserves. ERHC Energy has access to the data under the terms of a data use license with WesternGeco.