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Post# of 361295
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tryoty

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tryoty

Re: None

Monday, 09/28/2015 11:15:10 AM

Monday, September 28, 2015 11:15:10 AM

Post# of 361295
Do the math, part 2...

Unrisked estimates for all leads: 645M barrels

Just for giggles, let's say they find 200M barrels.

ERHC's percentage is 35%. 0.35 * 200 = 70M barrels

70M barrels * $45 = $3.15B

After the split they'll have 30M shares out. ASSUMING this "strategic investor" they keep talking about gives them enough cash to get through drilling for a 51% stake there will be 60M + 1 shares outstanding.

$3.15B / 60M = $52.50 per share.

Does anyone need MORE reason to understand why the exec's are buying?

People maintain anonymity for a reason and it is rarely noble.

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