Replies to post #94860 on ERHC Energy Inc (ERHE)

[balance_builder]

Tryoty..."You are missing nothing, $251M market cap is strictly forward looking potential, but that potential is mind boggling."

ASSETS
Current assets:
Cash and cash equivalents $ 38,030,673
Prepaid expenses and other current assets 215,421
Deferred tax asset 480,000
Income tax receivable 749,000

Total current assets 38,995,094

DRSTP concession fee 2,839,500
Property and equipment, net 69,941
Deferred tax asset 480,000
Other assets 8,921

Total assets $ 42,393,456

I don't believe the above numbers reflect what was paid for exploration rights in our blocks..... 15 million B-4, 16 million B-2 etc....

[lowman]

That is a VERY enlightening post, tryoty, and I appreciate spelling it out as you have.

My area of experience is home 'land' oil, and find I may do well to atleast start 'widening my scopes', to truly hedge myself, in the O&G sector, which is by far, my stongest suit (though not limited entirely to).

Thank you much. I also appreciate your tolerance of me. lol


On some of my own boards, we often repeat the same things over and over, so's to keep newbies and other potentials up to speed. Refreshers, so to speak. Never hurts to make things the easiest possible, to keep interest ongoing and even increasing. Often, if potential investors do not see something quick enough, they move on to where they can.

[bsk2007]

Tryoty,

>>No error in print lowman. Proven reserves are valued at $5 per barrel as evidenced by the sale price of the nearby AKPO field. If ERHE comes in with its share at 1B barrels, it will be worth $5B, or $7 per share. Once the fields are developed the value goes to $12 per barrel, or $17 per ERHE share.<<

Is there a post that explains how you reached these numbers? I'm interested to see how we come up with such different conclusions.

I'm figuring 1 billion bbls per block would yield ERHC about 200 million bbls after our operators and taxes get done with us. Are you estimating more than 1 billion bbls per block, or are you adding in blks 5,6,9 and the STPEEZ?

I'm hoping for a total of 500 million bbls (X) $15 bbl/proven and developed. This multiplies out to about $10 per share.

Thanks in advance.
bsk