ERHC Energy Inc (ERHE)

[kobiashi2000]

If Addax was sold for $10 billion USD, that includes the assumed debt, but Addax had 530 million barrels proved. ERHC could be sitting on close to 500 million barrels proved once blks 2,3 and 4 are drilled. At $5 a share that values us at $3.5 billion or $6.5 billion less than Addax, in my mind, that $6.5 billion extra for Addax takes into account its other assets, so, I easily see us in the $4 to $5 range should we be sitting on 500 million barrels proved, not taking into account all that LNG as well.