ERHC Energy Inc (ERHE)

[bayfisherii]

Does anyone on this Board have a reasonable guess as to what proven reserves are worth at today's prices?

I know that when Oil was between $25 and $40 dollars a barrel proven undeveloped reserves were given a $5/Bbl book value.

In the JDZ we have a lot of factors that could affect this benchmark both positively as well as negatively.

Such as:

PROS: $130/Bbl, highest grade crude, 40 to 45 API gravity, far enough off-shore to reduce geo-political turmoil, zero carry value through project pay-back

CONS: Ties to Nigeria, in 5,000 foot water creating high recovery cost.

Given these pros & cons (and I am sure there are many others I have not alluded to) what would most of you think a book value would be per barrel for JDZ reserves.

I am curious to see what you guys think,

BayfisherII