JDZ Nigeria-Sao Tome e Principe

[sneak-attack]

Bay: I say SEO gets his north of $10.00 a share for this Scenario.
With a full carry, SEO will wait for Production to begin. In five years oil will be selling for about $100.00 a barrel. $100.00 less $10.00 a barrel for production cost = $90.00 less JDZ tax of 50% = $45.00 a barrel of gross profit oil. Lets assume that the NSAI numbers are 336 mbls for ERHE. 336/20 year life cycle or 16.8 mbls a year for ERHE. 16.8 x $45.00 = $756 million in gross earnings less $680 million for 90% for development cost payback. That leave $76 million less operating expenses of 8 million, that leaves $68 million x corp. tax rate of 35%, which leave $44.2 million net profit. 44.2million / 730 million shares = .06 a share dividend yield @ 4% should have stock price of $1.50 a share. It will take about 4 years to payback the development cost. Once this is achieved ERHE will have about $486 million net profit / 730 million shares = a .66 dividend yield @ 4% should have a stock price of $16.50 a share. This number is 10 years down the road. If the NSAI numbers for block 2,3 &4 are 365 million your $27.75 a share is possible with $100.00 a barrels oil in ten years if not sooner for a much larger Hydrocarbon Find.

Just Food For Thought.
Sneak