ERHC Energy Inc (ERHE)

[Krombacher]

Hi seek,

that's in the spreadsheet too.

ERHC's cost would be 18.55% of the total cost of production. I arrived at 18.55% by taking ERHC's oil and gas and dividing it by the total amount of oil and gas in those JDZ blocks. Intuitively that makes sense because ERHC has roughly 20% interest in all the those blocks put together...the exact number 18.55%.

Therefore ERHC's cost would be .1855 * $13.51 billion, the total cost.

Then divide by 10 to get the annual cost, and you get 0.25 billion a year. This is accounted for in cell J20 of the spreadsheet.

Krombacher