ERHC Energy Inc (ERHE)

[badog]

Balance_builder,

Forgot to factor in PXD's current debt of $2 billion. I'll try it again.

Using your senerio of a possible 990 million barrels proven, and using PXD as a comparable...then our share price would be $10.78/share once we have 990 million barels proven.

Using above comparables:
PXD: 128.6 million shares, $43/share current value.
PXD Debt = $2.06 billion = $16.50/share
PXD SP with no debt = $59.50/share
ERHE: 710 million shares = $10.78/share

And that is figuring the current $60/barrel market price.
And figuring that proven oil will take a few years.
And speculating that we will actually own 990 million barrels.

Is that what you figure? I think some are throwing around a higer share price for ERHE...but then maybe they are speculating on more oil????

Badog