ERHC Energy Inc (ERHE)

[kingpindg]

Speaking of analysts following stocks...


Do you, or anyone else know...when an analyst puts out a research report on a company/stock, do they usually get info from the company to help them with their valuation? Or are they limited to using public info that is available to all?

The reason I ask is that, if I'm reading it correctly, in this recent research report on Afren by a Citigroup analyst, the Obo/Enitimi wells are being valued on a total 2P reserve estimate of roughly 5 million barrels.

So, is this a number the analyst would have just pulled out of his wazoo? Or could there be some actual intel behind it?


http://www.google.com/url?sa=t&rct=j&q=%22afren%22%2B%26%2B%22citigroup%22%2B%26%2Bfiletype%3Apdf&source=web&cd=1&cad=rja&ved=0CC0QFjAA&url=http%3A%2F%2Fwww.shareprophets.com%2Ffile_download%2F21%2FCiti%2Bafrenmarch.pdf&ei=j5jZUajbIo6BqgHekoH4CQ&usg=AFQjCNFWaV2sjRMgB1lQDb4JezTlcZGp4w



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