I am interested in Block 1 because it is in the JDZ and that will have a direct effect on ERHC even though it is not in one of our blocks. But, as we have seen, discoveries outside the JDZ have had no real effect on the share price of ERHC.
The great excitement in the JDZ was largely based upon nearby huge discoveries like Akpo and Egina.
The interest in the JDZ was based largely on nearby discoveries and caused huge share price rallies for ERHC, some in excess of 800%. They certainly weren't priced into the ERHE share price when they were first noticed or written about.
The current interest in Kenya is based upon oil discoveries, at a greater distance than AKPO, Egina, and the Block R gas discoveries are to ERHC's JDZ Blocks.
Should JDZ oil or gas not be commercial stand-alone, it is of tremendous interest if there is nearby infrastructure for a tie in. Production establishes intrinsic value for an oil and gas company as reservoirs can be proven and production brings revenue. This is basic O&G Industry Finance and Investing 101.
Thus all the interest in Total which is in JDZ-1 and Akpo and Egina in adjacent OML 130.
That there is a nearby gas development with planned infrastructure which is well within tie-in distance to ERHC's several gas discoveries is of course, of great interest, as in the past it was often suggested that Total was the only other operator who may be interested.
If this all gets priced into the ERHE share price once other investors wake up to these potentials, and certainly if and when it leads to actual production, those of us who purchased before it was priced in will be happy to have purchased shares while the share price was low.
Right now it is all about potential and exploration assets, and at about 1 penny per huge exploration block, there is clearly little currently priced into the ERHE share price.
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