ERHC Energy Inc (ERHE)

[bayfisherii]

Mike,

I wish I could give you an accurate answer.

Truth is I am not sure. I would think that after one-well a geophysicist could give you a very conservative and highly risked estimate. The problem with that is that unless the economics make those barrels commercial it still should have no value on a company's books.

An example of what I am saying is that Chevron said the OBO-1 could have as much as 300 to 500 thousand barrels recoverable but at the present time was not coomercial. Should their balance shhet be rewarded for those barrels? They have a 20 year window to produce those barrels or they lose the rights.

If you book them as proven then they get to borrow against them, as they add Equity to the company's balance sheet.