ERHC Energy Inc (ERHE)

[brez63]

Spec,
Thanks for all your posts.

What I had done for blck 1 (which is indicated by an inserted comment in the blck 1 percentage) is give a 50% overlay to Blck 2.

For example:
If the find in Blck 1 is 2BB, if 50% of it is in Overlay within blck 2, this gives us 1BB extra in Blck 2.

If ERHE is entitled to 30% of that 1 BB it is the same as 15% of the original 2BB found in Blck 1.

The way it is layed out automatically, works well for the day that Chevron announces the size of the find (just enter the number in Blck 1), and the day that we find out the percentage of the overlay, just modify the formula in field B3.

Your guess of $9.69 is totally within the realm of possibility/probability.

Again all these prices are for the pure PPS speculations based on oil reserve guesses and do not take into account potential Gas revenues, listings on NASDAQ/AMEX/NYSE/TSE etc. and PE ratios once revenues roll in. Therefore, yeah $9.69 is way in the heart of the envelope!

Brez

PS The value for oil estimates in blck 2 that is in the spreadsheet is additional oil found within this large blck, and not part of the shared oil from blck 1 of which 50% may overlap blck 1 for which we may be entitled to 30%!