When every single variable affecting ERHC valuation is intentionally overstated to come to a valuation that is impossible that is not splitting hairs. It is just plain wrong. If someone comes up with a reasonable valuation based on the current conditions I'll be the first to agree. What I won't do is agree with ridiculous valuations just to try to jack up the share price.
Having said that ERHC will go up by multiples if they make a commercial discovery. But ERHC will not become a multi billion dollar company with one well. Africa Oil still isn't and they are light years ahead of ERHC. ERHC will need 3 or 4 wells this size just to be commercial.
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