ERHC has 100% of the north half of the Chari-Oest
Post# of 127
ERHC has 100% of the north half of the Chari-Oest II block , situated nest to the Doba Petroleum Basin Oilfield which had production of 122,5000 barrels of oil per day in 2010.
This is were the Benoy-1 discovery was made, estimated to net $1.6 billion dollars and the largest over-seas discovery in the 40 year history of the Taiwanese CPC.
The CPC invested $42.76 million in Chad up to the point they made the Benoy-1 discovery, estimated at $1.6 Billion dollars of net profit oil. CPC's largest over-seas discovery in 40 years.
ERHE also has BDS 2008 which is adjacent to and directly in trend with the Benoy-1 discover and part of the first focus area.
Discoveries like Benoy-1, even smaller, would be transformational for ERHE which is only trading at 10 cents now.
Chad is higher probability as it is adjacent to proven petroleum systems, and the tendency is for oil to flow towards the rift, as Tullow proved in Uganda and Kenya.
But Kenya likely has the potential for much larger discoveries for ERHE, as it is right in the Cretaceous trend with the 6 billion barrels proven in Chad, and is also in trend with the Tertiary trend where Tullow has made major discoveries in Kenya. We await confirmation but they are rumoured to be bigger than the Billion barrel discoveries in Uganda.
Being at the intersection between two prolific rifts makes ERHC 's Kenya block 11A something with huge potential.