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Post# of 361994
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tryoty

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tryoty

Re: dat_51or post# 71751

Friday, 09/01/2006 3:04:56 PM

Friday, September 01, 2006 3:04:56 PM

Post# of 361994
Brez's spreadsheet is too low...

The going rate for proven undeveloped reserves is $12, and as I said earlier the full carries up that number significantly, I'm guessing as high as $20.

Change the spreadsheet percentage from 9.5% to 20% and it values reserves (at the $80/b price point) at $12.

Then punch 4000, 3000, and 3000 for blocks 2, 3 & 4 proven...

Whoa nellie!

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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