Replies to post #221257 on ERHC Energy Inc (ERHE)

[Homeport]

Your "2 cents" worth of reasoning is comforting, Bayfisherii, and sounds knowledgeable.

Pls, refresh my memory: Do you have oil-field experience?

Bests,
HP

[sneak-attack]

Bay: Since by all accounts Afren's JDZ percentage are not in play, But All the other small fish might be in play. None of the other small players in the JDZ have come out with estimates. Surely they are on the Hook for the drilling cost and would like nothing better than to have the numbers out in order to seek help with financing the cost or maybe selling off for more affordable properties. Who Knows? All we can do is sit back and watch. Maybe a JDZ wide consolidation is under way?


Tick Tock Time should be running out.

Sneak

[kownski]

Bay, my take on JDZ drilling.

Addax had a very limited budget to drill their test wells. They got a chance to sub a rig, but only for 120 days and needed to find out if the two main zones that were being produced at Akpo and were still producable in OBO, carried hydrocarbons on through the JDZ. By deep drilling in OBO and Akpo showing nothing in the lower zones, they didn't need to take a look-see right now.

If they found as many gas sands as they reported, they must have found more than expected and could be the reason for the re-hash of data.

jmo
John

[mromro]

Agree that the normal detail is missing, ie. thickness of hydrocarbon column, depths etc. Would not expect to see any resource volumes though.

On the 'gas cap' issue I tend to disagree, from the TD's and report looks like they went through the whole sequence and tested all targets they wanted to. But that's just my interpretation.

JDZ is the toe thrust of the Niger Delta Basin and EEZ is a basement structure driven play with a bit of volcanics thrown in and maybe an extension of Gabon Basin, they are absolutely nothing like each other.

[lovemelongtime]

Very solid and logical post bay, not much could be added to that at this time, we all wait for some type of confirmation beit extensive drilling results or just a pr of going on to phase2.

[umbra]

'bay' - thank you for your post. Like 'tamtam', I think your logic is very sound and I too am puzzled with the possible hidden symbolism behind this September Phase II announcement. At this juncture, SNP seemingly has little, if any, interest in the EEZ.(to the best of my knowledge). If they were publically "courting" a position there by being active in the auctions, I could certainly understand their conscious hesitance in publishing a positive face on JDZ drilling results thus keeping auction bidding to a minimum. And yet, as you and others have clearly stated, if the JDZ Phase I results were abysmal, what advantage comes from a 6-month moratorium on announcing same? None that seems apparent to me. So why six months? Required time to do further analysis before making a decision to go forward with a minimal Phase II requirement? I think not. Required time to do something beyond the minimum requirement? I think so. Our imaginations/desires could have us turn that "something beyond" into a magnificent series of gyrations that would send the SP soaring. Nice but unlikely. Logic would reign all this in by suggesting that perhaps Phase I results were less than stellar disallowing "stand-alone commerciality" in any of Blocks 2 - 4. But to maximize any commercial potential, Phase II exploration required the development of an infrastructure - an exercise that would most definitely require a time extension. Makes sense to me. If true, the mechanics of that exercise would no doubt be quite complex re partners/equipment/finances, etc. Hopefully all this will become much more clear in the near term. I would love to hear others weigh in on this subject - especially folks like 'bsk', etc.

Cheers.

E.