Replies to post #238253 on ERHC Energy Inc (ERHE)

[puff]

Yes you are correct. But just maybe its this 5th well that gives them pause. Maybe they were hoping for stellar results and got nothing instead? Maybe they don't want to drop a 6th well and so on.

Nobody knows the truth. This board is obviously biased but I still will go with objective criteria.

[vineseeker2]

The contract for the drill ship was for four wells by Addax. At the same time they needed to drill three wells to meet their requirements for block 3 & 4. Block 2 was drilled by SNP with the Sedco 702. Addax CHOSE to drill an optional third well in block 4, at the same time Addax had another block in the area they were required to drill by this spring, I believe may 11 was posted.
JMHO, but I believe addax found something in the first two wells in block 4, that made them elect to drill the optional third well instead of meeting their contract requirement for the other area block.