Facts seem to always escape the Narrative here when it comes to ERHE.
ERHE was only responsible for 25% of its 35% share of the drilling cost related to block 11A.
Now let us assume that EEZ block 4, JDZ blocks 2,3,4,5,6,7,8 9 and 11 along with the Two Nigerian blocks of 242 and 291 all get Total Fina as its Operator.
How much Oil as Gas could Total Fina possibly discover with that New State of the Art computers system to evaluate the 3D imagery in the above blocks.
Let us assume that they discover 12 billion barrels of oil and gas equivalence for All the blocks combined.
If ERHE could secure a 5% Free Carry in all blocks via a percentage swap with Total Fina, ERHE receive 600 million barrels of oil and gas equivalence.
If Total Fina's entire Proven Hydrocarbon Reserves doubled to 24 Billion barrels of oil and gas equivalence, ERHE'S share would double to 1.2 Billion barrels of oil and gas equivalence.
If the above scenario pans out, ERHE could possibly achieve an $8.00 a share pricing Target.
Please conduct your own research in case I am Mistaken
Sneak-attack
