Replies to post #318776 on ERHC Energy Inc (ERHE)

[sim2010]

My valuation assumption was based on this document:

http://www.erhc.com/media/files/None/ERHC-Chad-Flyer-v4.pdf

ERHC Energy Inc (ERHC) is a Houston-based independent oil and gas company, incorporated in Colorado, USA, with a
market capitalisation of ~$105 mm (August 2011). ERHC is focused on growth through high impact exploration in
Africa and the development of undeveloped and marginal oil and gas fields.
EHRC has a wealth of African experience, with a management and board connected with the region, significant
investment by African business interests, assets elsewhere in the continent and a track record of getting things done.
The Republic of Chad is a significant oil producer in sub-Saharan Africa, with proven oil reserves of 1.5 BBO,
undeveloped discoveries of 2.6 BBO and 14.6 TCF gas, along with substantial untapped exploration potential. Chad
shares borders with Nigeria and Libya, Africa’s largest oil and gas producers, along with Cameroon and Sudan, which
also produce oil. Oil production in Chad started in 2003, with current production at 122,500 BOPD.