This message from DK is the first I remember when he flat out stated ONLY biogenic gas was found. I thought it was stated that the operator said "biogenic was found" but never said it was ALL that was found. I totally misunderstood if he is saying that was said last year. Since that is their position so be it but IMO I find it hard to believe they hit the high pressures they supposedly encountered with only biogenic, especially at the depths they were drilling.
That was the most definitive I have ever heard DK re: the JDZ wells. In prior correspondence (including my own personal correspondence), he always seemed evasive in his answers. interesting.
Chevron must be one of the highly uncommon companies Dan Keeney speaks of...
"it would be highly uncommon for companies to detail all the things that were not discovered in exploratory drilling"
For years Keeney has defended management by telling shareholders this is wildcat exploration and disclosure is not warranted, yet Chevron produced a very comprehensive report with its first and only well in this unexplored zone.
Keeney's excuses for management and reality seem to be at odds.
Here is a link to the information released to Chevron shareholders, after 1 well (the first in the JDZ no less), we have 5 wells and squat for disclosure:
There is no acceptable explanation other that ERHC shareholders are being deprived the information that other companies provide their shareholders. This situation has gone on for far too long and cannot be tolerated any longer.
Dan Keeney has contributed to the downfall of this company by failing to advise them what should and should not be disclosed from a PR standpoint. That is his job. Maybe they told him to shut his mouth and be obedient, I can't say. But I would have resigned from the account before I participated in this PR nightmare and its deficiencies. Excuse me for not giving a damn about what DK said in the past, what he says now or what he says in the future. I am not a fan.
OK Doc and the rest of the regular ERHE crowd. DK states Biogenic Gas was found, if something else were discovered it would have been disclosed...To me that pretty clearly says only biogenic gas was found.
Then he goes on to say "some fail to recognize our special incentive in the TENS OF MILLIONS OF DOLLARS and potentially many times higher than that in the future - to comply by the agreements ERHE has.
So if only biogenic gas found how can our incentive be worth tens of millions of dollars and potentially many times higher???
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