Replies to post #289296 on ERHC Energy Inc (ERHE)

[steelwundrin]

My price target is based on these estimates:

Kenya Block 11, The Lowest Reserve estimate per the company's presentation is 250 million boe. Using a 35% working interest and $16 per barrel in the ground value yields a $1.4 billion asset value.

Note that the company's high estimate yields a $6.7 billion asset value.

In Chad, the company has estimated an additional 250 million boe reserve estimate.... This of course also yields a $1.4 billion asset value.

For the EEZ, I use a silly low estimate of 100 million boe reserve estimate, yielding an asset value of $560 million.

So, $1.4 billion plus $1.4 billion plus $560 million totals to $3.360 billion enterprise value. With 764,462,810 current shares outstanding, the value per each outstanding share is $4.40.