Thursday, July 21, 2005 7:56:02 PM
so we gave up in block 4 60% winning bid (13.5% carried) and lost 46.5% to nbl to carry us .. so a partnership of 22.5% (erhc) and 77.5% to nbl..
what happened to 70/30?
based on 4.5B on blocks 1,2,4
1.5B block 2
1.5B block 4
1.5B block 2 (18.5%)=277.5M BO
1.5B block 4 (13.5%)=202.5M BO
total possible unproven 480M BO
$1-3/unproven equals 480M-1.44B market cap
equals 480/710=.676 to 1.44B/710=$2.02 on blocks 2&4 the most favorable...
dilution sicks I will take 1.5 now please
comments?
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