CVX To Announce Block 1 Find 'Today Or Tomorrow,' JDA Source Tells Poster

A source at the Nigeria-Sao Tome and Principe Joint Development Authority has told I-Hub poster Mark St. Amour that Chevron will announce "today or tomorrow" what is believed to be a very large find on its Block 1 concession in the Joint Development Zone of the Gulf of Guinea.

There has been a great deal of speculation that the find straddles the midline of Block 1 and Block 2, leading to the possibility that ERHC Ener4gy could begin to enjoy royalties with Addax and Sinopec. its partners in Block 2, without ever having to sink a well.

Here is the post from Mark, whose birthday is today. Happy Birthday, Mark!<br>

Posted by: markgovols
In reply to: None Date:5/24/2006 8:23:28 AM
Post #of 54949

*****UPDATE*********

Just got word from JDA source that CVX WILL BE ISSUING A STATEMENT TODAY OR TOMORROW REGARDING OBO-1.

A caveat: Nine times out of 10, JDA sources are wrong; however, the same rumor - with the same date offered - did come from Afren's investor relations department last week, according to posts on the message boards.