ERHC Energy Inc (ERHE)

[sneak-attack]

PN claimed that ERHE needed to raise $50 million and now we learn that OML40 sold to Elcrest for $154 million. I looks like ERHE may get 15% of that block. The production facilities are all in place.

OML 40 is thought to have been producing at about 3,000 b/d of oil before Shell shut it down in 2006 when the export line was damaged by a militant attack.

ERHE could earn betwwen $7 to $9 million a year once the pipe line is repaired.

ERHE'S proven reserves should be about 50 million barrels.

No Mid Fearing Oil in this Marginal oil field play here!!

Just more Ponderance on My Part.

Have a Great Day:)
Sneak