ERHC Energy Inc (ERHE)

[tryoty]

The world record signature bonus is $2.4B USD...

http://www.globalinsight.com/SDA/SDADetail5873.htm

And that was for 100% of two blocks holding 1.7B barrels. I'm assuming 2B barrels each in 2, 3, and 4. If you do the math that works out to $1.4B per (seismic indicated) billion barrels. That makes drilling rights in 2, 3, and 4 (6 billion barrel assumption) worth $8.4B USD. ERHE has and average of 16% of those blocks so it's rights are worth $1.3B USD, or $1.92 per share.

OBO-1 is somewhat irrelevant. ERHE is not in block 1. However, it DOES prove the existence of a working hydrocarbon kitchen in the region which adds credibility to the seismic indications in ERHE's blocks. The bottom line is ERHE is not going to fetch more than $2 pre-drill. You can't expect the unprecedented just because we want it. You have to look at industry actuals, which I just did above.