ERHC Energy Inc (ERHE)

[YankeMike]

Thanks sneak-attack. Yeah, it's an interesting scenario.

OML46

-The cost of entry is just under $2M and the cost to first oil is just under $10M making this a low cost route to early cash flows.

-The potential for flow rates of up to 2,000 barrels per day from the vertical well.

-Up to 10 million barrels are reckoned to be recoverable.

-The field lies in just 3 metres of water.

-Afren’s netback pre-payback on Eremor, for example, at an oil price of $50 per barrel is $25 per barrel.

Mike