ERHC Energy Inc (ERHE)

[YankeMike]

Manti: That's interesting about Meridian's view that ERHE was worth a couple dollars a share per billion barrels of oil found in our blocks. The key point being he meant per billion barrels in total, not just our percentage rights in the blocks. Since the price of oil has probably more than doubled since then, let's say we're worth $4 per share per billion barrels. If Blocks 2 through 4 contain just 5 billion barrels, that would equate to a share price of $20.

So it appears that whichever angle we view this from, we could potentially be valued at $10 to $30 a share in 3 or 4 years.

Mike