ERHC Energy Inc (ERHE)

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Valuation Assumptions,

Balance, I'm directing this question to you but I could also be asking Tamtam, Midtieroil, YankeeMike, and many others as well so I'd appreciate comments from anyone.

In today's announcement of BP's oil find in the Gulf, the analyst at Societe Generale estimates a 35% recovery rate.

What assumptions are you making about recovery rates?

Pls. remind me what you are using for $/proven and how you developed that #

Also, in your assumption of $/proven, is that NET of all costs, taxes, etc.

Many thanks