ERHC Energy Inc (ERHE)

[tryoty]

Something isn't right...

Estimates range from 6-14bbl of unproven in the JDZ.
Even using the low end and a low unproven value of $2 ERHE's value should be $2-3.

It seems that the markets as a whole (read: us) don't believe a signing is forthcoming.

On the high end going with 14bbl and all proven ERHE's 20% stake in the JDZ is worth mid $40's (yes, dollars).

Yet it trades at 0.77

That's not a lot of confidence that the signing will happen. A no-brainer isn't a no-brainer when it's not.

And no, I do not want cheap shares. I do not have a buy order in. Just voicing concerns. One plus one isn't adding up to two on this. I'd like to hear long-timers views. Is this just once bitten, twice shy? Or is it just that everyone that wants in is in. If it's the latter ERHE is likely to see only sellers when the signing happens. If it's the former it'll rocket to the moon.