ERHC Energy Inc (ERHE)

[TFA]

Kobi, thank you for the post:

<<Interpretation carried out by WesternGeco has enabled the identification of fifty-six prospective structures within Blocks 1 to 9, of which seventeen were defined as prospects and thirty-nine as leads. Of particular interest to ERHC, however, is the recoverable reserve potential of Blocks 1, 2 and 4. WesternGeco identified six High Confidence prospects in these three blocks alone with estimated cumulative recoverable reserves potential of 4.5 billion barrels of oil. WesternGeco used reservoir parameters similar to those known from nearby fields in Nigeria and Equatorial Guinea. Combined recoverable reserves potential of the seventeen prospects was estimated by WesternGeco to be 14.4 billion barrels of oil. WesternGeco partitioned these reserves on a block-by-block basis for ERHC's exclusive use in the bidding and option selection process relating to the JDZ licensing round.>>

But if we are talking conservative estimates, I'd have to say the reference to 4.5 Billion barrels is more like reality--and ERHE has a percentage of that. That's still alot of oil and I think the price should be higher, but the buyers are not there to force it. What are you gonna do besides wait? Could hire a good media person...

TFA