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tryoty

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tryoty

Re: lowman post# 94850

Saturday, 04/07/2007 10:02:40 AM

Saturday, April 07, 2007 10:02:40 AM

Post# of 367110
lowman, they haven't drilled yet. Addax has secured a rig for as early as Q2 2008, so our wait is about a year. There are no "proven reserves" at this time, but if the seismic estimates are accurate ERHE's share should be about a billion barrels, which I value at $5B, or $7 per share. And that's just blocks 2, 3, & 4. They have rights in 5, 6, 9, and 4 blocks in the STPEEZ.

Plus Ledbetter is actively persuing revenue producing properties, something could happen there at any time.

Hope this helps.

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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