ERHC Energy Inc (ERHE)

[brez63]

Night,
I did, and I was happy to see the average value of $12.80ish. Obviously proven reserves, P50-P90, are worth more than unproven reserves. That is why I used dollar values in my spreadsheet ranging from $1 per unproven to all the way to $12 per proven. It just gives me a range of values to work with. As well, one day they may have a number of proven reserves in Block 1 and 4, but an estimat of unproven in block 2 and 5. My spreadsheet allows me to see what the value is estimated for that particular block, thus add them all together and get a range of SP for the stock. It is crude, simple but in my mind gives me a good enough estimate to realize that we are currently undervalued.

Brez