ERHC Energy Inc (ERHE)

[balance_builder]

If 45% of the AKPO sold to China for $2.3 billion.....the entire field would be worth about $5.1 billion. Remember, this price is an UNDEVELOPED price. Remember also that the buyer (China) still has the responsibility of paying taxes/royalties to Nigeria as the oil is eventually produced and the seller now becomes exempt from paying such taxes.

Ok...entire AKPO field is worth $5.1 billion. A field of likeness would mean ERHC could sell their "alleged" 26.7% net for $1.36 billion.

Two such fields in block 4 would fetch $2.72 billion and two more fields found in block 2 (which by the way, XOM at one point said they liked the looks of the seismic in block 2 better than block 4....and block 2 was also Offors first choice to go after) would bring in a total of $5.44 billion (or $7.65 per share). This doesn't mean blocks 2 and 4 ONLY hold 4 such oil fields. It also doesn't include any oil being found in blocks 3, 5, 6....or STP's EEZ.

The focus should be on the word "UNDEVELOPED" as this is what the AKPO sale amounted to. We're drilling when????

Value will eventually become discovered by the market. Somebody right now isn't allowing our value to be discovered IMHO. NITE and TDCM finished on the high ask....again....as they have been for the last upteen months. Why? I only have guesses.