ERHC Energy Inc (ERHE)

[sneak-attack]

BB: Yes Indeed, I did post the Risk factor, I am in agreement with you on that. Raymond James Stated that the Enterprise Value of AXC in June of 2008 was $9 billion dollars which is what SNP paid for AXC including Debt. I'm just trying to Project a Value for ERHE'S potential JDZ reserves based on what RJ claimed AXC'S Deepwater potential reserves of 2.2 billion barrels for all the deepwater leases combined once proven by 2010. AXC would be selling for $300 a share or have a market cap of $46 billion dollars. Having said that, RJ also stated that at AXC'S current oil delivery of 140,000 barrels a day, The 477 million barrels of proven reserves in place would only last about 8.5 years. So you can see the Conundrum that was facing JCG, Billions in new debt, Billions to develope the new finds, The years it would take to bring the new oil to market, All within an 8 year time span while producing oil reserves declined. Could JCG have got more, who really Knows, It is all history now. The Million Dollar Question is What might the price be for SEO to Knuckle Under?

Thanks for the Imput.
Sneak