Investor,
It is hard to answer that question. If they only drilled into the caps there was not a chance they would find a wet zone.
For all we know that may not have been their intention.
What I keep coming back to, is, if nothing of significance has been found why have the results not been released?
It really makes no sense, if they (Sinopec) could release the results and lower expectations for the EEZ bidding, why wouldn't they?
If they (ERHC and SEO) have knowledge that the 5 wells drilled were not commercial and they(ERHC) did not release that information to their investors they have potential problems the SEC, so why wouldn't they?
If you read the annual or semi annual reports of all the investing parties (Afren, Equater, ERHC) they all state the same thing that results are not known but warrant a continued review iuntil September. There is something in the timing that we are all missing.
Frankly it makes sense for SEO not to puch to have the results made public. The smart move for him would be to start buying into STP infrastructure projects. Just like in California during the gold rush it wasn't the miners that made all the money it was the people that brought in the infrastructure.
Bay
News 
Market Data 
Discover 
AI
