tex, ERHE will not appreciate like those days. The oil patch moves like frozen molasses compared to the Internet companies during the bubble days. I expect significant appreciation in chunks as milestones are met. The big one will be Anadarko drilling in #3... If they hit significant oil in that block (and announce it) look out! Block 3 is the least prospective... if they hit big, 2 and 4 will be monsters.
Between now and then it's up to Offor/Ledbetter to surprise us, and I think they will. ERHE's first barrel of oil will not flow from the JDZ, rather an onshore property where Ledbetter has vast experience. I'd like to see ERHE build a strong base above $3 before the JDZ lights up.
JMHO.
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