Exactly. It would not be commercial in that water depth without existing production facilities in the area. That is why Exxon and Chevron left and that is why Total was able to come in and make it marginally commercial. The real question is whether those figures are just OBO-1 or whether the OBO-2 appraisal well will add onto that number.
Quite frankly without a Hub field somewhere in the area like Total already has, the whole JDZ may be worthless to everyone but Total if someone else can't find another large field somewhere in the JDZ to act as a Hub.
The smartest thing ERHC might do is give up almost their entire interest in the JDZ for a full carry in Kenya. Unfortunately I am not sure ERHC is bright enough to figure that out and I am not sure if Total would even be interested. Total is way down my list of preferred partners but they are better than SNP and CNOOC by a long shot. At least they have the technical ability to do the job. Something SNP, CNOOC and ERHC sorely lack.
the Afren interest into account in my calculation. The report says that Afren's interest is 4.4% and the "Rem WI Reserves" (not sure what "Rem" means, but WI means "working interest") are 0.2 mboe, or anywhere from 150,000 bbls to 249,999 bbls. So wouldn't that mean the total 2P reserves for Obo/Enitimi would be 3.41 mboe to 5.68 mboe? Which is why I said roughly 5 million.
Market Data 
Markets 
AI
