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Krombacher

06/22/23 3:26 PM

#356483 RE: ssc #356480

ssc,

I didn't value Oranto at $3 billion

I valued Oranto's two assets in the JDZ and EEZ at $3 billion.

Obviously, Oranto is worth far more than $3 billion from its other assets which I didn't consider because ERHC has no other assets.

But on the assets that ERHC does have, ERHC is very similar to Oranto's two assets

Krombacher