ERHC Energy Inc (ERHE)

[tryoty]

No error in print lowman. Proven reserves are valued at $5 per barrel as evidenced by the sale price of the nearby AKPO field. If ERHE comes in with its share at 1B barrels, it will be worth $5B, or $7 per share. Once the fields are developed the value goes to $12 per barrel, or $17 per ERHE share.

The cost of producing oil at these depths is extremely high, so oil in the ground is valued no where near street prices. The above numbers are accurate.

You are missing nothing, $251M market cap is strictly forward looking potential, but that potential is mind boggling. Big finds in its STPEEZ blocks could very easily make this a $30 stock or more. It may take 10 years to get there (LOL) but it really has that kind of potential.

As I said earlier, Ledbetter is seeking revenue producing properties to bring immediate value to shareholders. I'm not expecting much there though, the company doesn't have the financial means to buy anything of significance.