ERHC Energy Inc (ERHE)

[sneak-attack]

I believe block 1 was estimated to have 150 million barrels x $8.00 = $1.2 billion. If one uses the NSAI numbers of 1.9 billion barrels of oil in blocks 2,3 & 4 = $15.2 billion @ $8.00 for each NSAI barrel. The small player in blocks 2,3 & 4 control 31.66% of the NSAI number or 619.5 million barrels x $8.00 = $4.95 billion valuation. This same $8.00 per barrel would give ERHC about $4.00 per share for it's NSAI oil. The cost to develop blocks 2,3 & 4 could be as high as $15 billion x 31.66% for the small players or $4.79 billion. I believe the small players will have to Punt the Ball Very Soon. Whatever Total pays for CVX'S block one may start a Stampede of the small players to the Exits.



JMO
Sneak