ERHC Energy Inc (ERHE)

[bayfisherii]

Of course everyting we talk about is all speculation. But proven reserves in today's market are generally valued between $8 to $12 per barrel. Erhe's (future) proven reserves should be at the highest end of that value for two reasons:. 1st) the quality of the oil coming out of the GOG & 2nd) ERHE has a free carry.

If we put a conservative value $10/Bbl proven, then by late 2009 with the drilling programs that have occurred between 4th qtr 2008 through 4th qtr 2009 there is the potential for the JDZ to have proven upwards of 14 Billion Barrels in Zone 2 & Zone 4 alone. with an average of close to 20% royalties in those zones (this is still a bit up in the air as we do not know exactly what ERHC has in Sone 4) we could see as erhc's share a figure closer to 2.6 or 2.7 Billion bnarrels proven (from these tow blockas alone) if that is true a Sp of closer to $38 would be appropriate. Now all of this has some risk associated with it as we really do not know for certain what is down there. But with some of the info right or wrong coming out on meandering streams, oceans of oil, and company makers then even these numbers could be very conservative.

Thereffore I feel a fair price if someone or some entity wanted to buy us out and assume all risk, that number for me would have to be north of $10/share.

Anyones thoughts on this?

Bayfisher