ERHC Energy Inc (ERHE)

[bayfisherii]

A 5 billion dollar buyout of ERHC would put total recoverable reserves in Blocks 2,3 & 4 at 3.5 billion barrels of Oil & Oil equivalents and no oil expectency in zones 4 & 11 in the EEZ.

That is why I have always felt that Mark's often quoted sell price of $3.50 to $4.00 per share was too low.

Still feel that the bottom price SEO would accept would be $10/share for ERHC's JDZ rights and EEZ would be left intact to be sold at a later date (after initial rounds of Geophysics and initial drilling).

By the way a $10/share would be equivalent to (approx) 5 billion barrels of oil and oil equivalents discovered in Blocks 2, 3 & 4 of the JDZ.

So until we start hearing flow test results and reservoir info, who knows.