ERHC Energy Inc (ERHE)

[ponzi_implosion]

Sure thing mz157

http://www.wikinvest.com/concept/Deepwater_Oil_Exploration

deepwater operations cost $40-$50 a barrel

https://www.rigzone.com/news/article.asp?a_id=90161

Sinopec said Sunday its 2009 net profit more than doubled to 61.8 billion yuan....Revenue fell 10% to 1.35 trillion yuan

61.8 billion divided by 1.35 trillion = 4.5% profit margin.

"...$3 billion in costs means $3.57 billion in profits.."

Apparently farrel is not familiar with actual costs and current profit margins.

Even using the 6.57 Billion gross cost number, that yeilds a net profit of $300,000,000. Using that 300 million to pay back the 6.57 billion it will take about 15 years (give or take) cover the principal and interest.

Have you heard about 'Hollywood' accounting? That's where a movie that cost $100 million to make grosses $500 million and the studio who paid for production says that they are still losing money.

How long do you suppose it will be before significant 'profit oil' revenues hit ERHE's books? I'd estimate at least 10 years.

Regards