ERHC Energy Inc (ERHE)

[ac hotfries]

Tap,

my math is not flawed, as follows:

Addax unrisked oil in JDZ 286 million barrels

for argument's sake, if all of the oil were in block 2 (Addax's lowest percentage block) and there was no oil in block 3 or 4 it would mean that the 286 million barrels are based on Addax's 14% of Block 2:

286 million/0.14 = means block 2 would have a total of approximately 2 billion barrels of oil.

ERHE gets 22% of 2 billion in block 2 = approximately 440 million barrels of oil.

This would be the highest amount of oil reserves ERHE could have based on the report submitted by Addax. I agree you don't really know the exact estimate because you don't know the breakdown between the blocks, but it couldn't exceed the 440 number above. Hope that now makes sense.

This all doesn't really mean anything until drilling begins, but it is nice to have formal reports that will at least give you a low end range.

-ach