Replies to post #1676 on ERHC Energy Inc (ERHE)

[oilman57]

Who cares if there hasnt been a well drilled in the JDZ yet? What is the point? These are the main points:

1) Western Geco has estimated recoverable reserves of 14 Billion barrels of oil in the nine blocks in the JDZ.

2) This estimate was based on only 17 structures of the 56 total structures that were identified in the 9 blocks.

3) So in all likelihood this was a conservative estimate as it didnt take into account the other 39 structures within the 9 blocks.

4) As a result of the huge estimated recoverable reserves in the JDZ signature bonus bids on these blocks were at a record high level.

5) So obviously the various companies agree with Western Geco and believe there is alot of oil in the JDZ.

6) ERHE also has rights in the Sao Tome EEZ which are supposedly just as prolific.

Hope this helps clarify things. I know you are aware of all this balance.

[monkeytrots]

BB - 13 years is PROBABLE.

And don't attempt to state that I said it was 'ridiculous'.

I said no such thing, and stand by my estimate.

13 Years to first oil IF ERHE were to be awarded a block, IF they were to drill, IF they were to find commercial hydrocarbons, IF they can take it to production - AND IF they keep paying their cash calls on time so they don't get taken out of the blocks.

I don't believe that this company can do all that.

Oh, and BB - you STILL exclude the 6 years exploration time - and through implication, (comparing it to the Amerada Hess GOG block of '14 months' to first oil) have very directly indicated you believe that 'oil has already been found'. So consider yourself shown where you stated it.