Replies to post #316323 on ERHC Energy Inc (ERHE)

[midtieroil]

ERHC will not have 35% of the block. After Circle's share and Kenya's backin it will be closer to 27%.

Oil in the ground is not selling for anywhere close to $9 per bbl. $5 is optimistic. About 40% of the oil from ERHCs share goes to Kenya and that is over and above the government's owned percentage.

If you use the correct numbers you get the correct valuation.