Replies to post #71698 on ERHC Energy Inc (ERHE)

[TFA]

and I contend that the proven reserves are currently 0. Yes we have potential, but proven reserves are what counts and are established by drilling and that has not yet been done.

GL

[Jim Long]

Try,
I like your numbers much better than mine. I believe your full carry factor is valid. What that number is, I don't know but $8.00 per barrel doesn't seem unreasonable. In any event we are golden based upon 6 billion barrels. If, as Umbra indicated, that it is much more than that then we are platinum.

Thanks for your input,
Jim

[brez63]

Tryoty,
If one is to assume 2B per block (2,3,4), at an estimation of $8/barrel profit. My spreadsheet gives $11.20 PPS. Which is pretty close to just doing the math of ERHE share, ball park of 1Bbl / 710M OS (even though it is closer to 714 now I believe) x $8/bl = $11.28.

If any one wants it, I have posted a spreadsheet before (simplistic) which you put in the amount of oil found per block and it calculates automatically the PPS for many different situations.

Brez