Interesting news. So let's do some new-erhe-paradigm math. Can anyone explain how erhc's assets could be worth almost 3 times as much as Anadarko's?
Total paying $8.8 billion for Anadarko’s Algeria, Ghana, Mozambique and South Africa assets.
The small circle of investors predict $8/share price target for erhe. That would equate to about $24 billion or just under 3 times as much for erhc's assets. Now let's compare. On the one hand we have erhc's assets with no discoveries. On the other hand we have Anadarko's assets:
In 2018, Anadarko celebrated 20 years of oil production in Algeria...The partnership has discovered more than 3 billion barrels of oil in Algeria.
Anadarko and partners announced first oil from the Jubilee field in Ghana in December 2010. First oil was achieved safely and in record time, just 3.5 years following first discovery. In August 2016, first oil was achieved at the adjacent TEN development, which was the partnership's second major deepwater project.
In 2010, Anadarko made its first discovery in Mozambique in the Offshore Area 1 of the deepwater Rovuma Basin, launching one of the most important natural gas discoveries in the last 20 years. Today, the company and its partners have discovered approximately 75 trillion cubic feet (Tcf) of recoverable natural gas resources in Offshore Area 1 and are working to develop one of the world’s largest liquefied natural gas (LNG) projects.
Anadarko is in the very early stages of exploration activities in South Africa. The company operates offshore Block 5/6/7, which covers more than 23 million acres. In 2013, a 3,800-mile 2D seismic program and a high-resolution seafloor survey were completed. This data is being interpreted and mapped to better understand the basin geology and plan a 3D seismic program.
Can't wait to see the alternative fact logic to rationalize this.
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