Do you really think anybody is going to pay $45 dollars for reserves in the ground when oil isn't even selling for $45. LOL. I've seen ridiculously high estimates before but never this bad. When oil was over $100, reserves in the ground were maybe selling at $15. Right now it is more like $5.
These are similar type estimates that we saw carelessly thrown around prior to JDZ drilling. I can find 50 companies right now that have resource estimates of 600 million or more. How many of those do you think will hit oil and have billion dollar valuations? I would have thought most learned better from previous ERHC failures but apparently not.
Tryoty, I haven't been keeping up lately, so I would like to know if ERHC declared they are doing a reverse split and if so, what is the ratio and when does it happen. Thanks.
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