What is it about the current mcap that the market has connected with as the upper end of the reward/risk ratio ?
Why not $1B or more ?
Nobody has hard numbers at this point. I think ERHE is trading on TA for the time being until the PSC's get signed & all parties are ready to move on.
As time goes by, the valuation of these properties may likely rise w/prices of oil & gas.
Are the Majors jockying for position because they feel the can afford the lost revs from delayed drilling if it will mean better strategic positions at later date or hindering of competitors financial positions going forward ?
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