Brabus you are obviously fairly switched on with regards to these scenarios but I would of thought the following was more than oil shows: Eromanga Hydrocarbons NL (ASX: ERH, ERHO, ERHCA) is pleased to provide an update on Block 330 where it expects to commence an extended production test of well PTA-3 in mid August. The Gavea Joint Venture (ERH 40%) re-entered the PTA-3 discovery and announced to the ASX on 25 March 2008 that it was suspending the well for future production. (Refer Figure 1 forlocation, seismic section and photo) A. Preliminary Development Plan In anticipation of the extended production test results, Gavea the block operator, has proposed an aggressive, full-field development plan based on production from 14 wells, with peak rates of approximately 2000 barrels of oil per day (bopd) within 2-3 years and a life-of-field forecast of ~ 7 million stock tank barrels (mmstb) of recoverable oil. This amount of recoverable oil is consistent with ERH’s current best estimate of contingent resources at Block 330.
ERH Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held