Replies to post #323624 on ERHC Energy Inc (ERHE)

[midtieroil]

Very good question about the 5 million in assets. I had to look up the answer. Almost all of the 5 million is what ERHC paid for two of the concessions. This is more of a cost figure than it is a value figure.

2.8 million was for Chad. Chad had not been disposed of yet at 3/31 so it was still on the books. Now that it has apparently been disposed of, ERHC will have to write that off as a total loss.

About 2.3 million is on the books for the EEZ. I guess that is what ERHC spent over the last decade doing a PSC and searching for a partner.

So the remaining assets are actually a lot less than thought. Nothing is on the books for the JDZ or for Kenya.

[nwtf]

If you calculate it as net worth it comes in at MINUS 7,900,000.00.

Yep thats MINUS 7 MILLION, NINE HUNDRED THOUSAND. Did I say MINUS? As in the hole. As in its a NEGATIVE balance.