LOL. Africa Oil's share price is near a 52 week low of $2.39 because in *its* case oil prices have had an effect. That is because it produces oil and low oil prices have an effect on the bottom line.
If we instead look at Africa Oil's 52 week high when oil was trading higher, it was trading at over $9 or about 5 times the market cap you cited...or about $3 billion.
ERHC is not so much affected by low oil prices adversely because CEPSA is moving forward with drilling so long as oil prices don't move below a threshold...which obviously they haven't yet or CEPSA would halt operations which they haven't done.
In fact, ERHC benefits from low oil prices because exploration costs are lower.
That said, does ERHC have as much oil as Africa Oil does? Maybe. Maybe even more. But it's just not proven yet.
Krombacher
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