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Saturday, March 11, 2006 11:31:18 AM
If Chevron's hit is Kazakstan big as rumored, and the formations in the other blocks are equally rich, ERHE will control many billions of barrels.
As a general rule (very general) market caps of oilco's run 10X their reserves... 4bbl reserves = $40B cap.
ERHE may split down the road, but it won't be a reverse, IMO.
(Yeah, I know, there are about 20 "if's" in there)
ERHC's share of JDZ oil; 1 billion barrels. Once proven, ERHE will be $10+. All we need is time and patience.
Nuf said.
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