Replies to post #122074 on ERHC Energy Inc (ERHE)

[YankeMike]

I agree. I don't want to see anything happen now; let's wait for dilling results. Combine that with things getting closer to some EEZ action, we should easily be worth $10 to $20 a share in 2010.
Mike

[Opus X]

Bayfisher, I generally agree. While we may quibble on the proven reserves per barrel $ estimate (wasn't that more reflective of a price when oil was around $70/barrel) and 14 Billion barrels in zone 2 & 4 alone (after 5 holes drilled?), I agree with your general direction of the share price.

Now, would I take $3-4 per share before drilling, NO!
$5 -6....maybe, but probably not....+$10..quite possibly, but still thinking. Obviously my thinking here is reflective of my position and orientation. (i.e. I'm buying penny stocks so I'm not exactly "risk-averse" and I'm not funding any short term financial need at the moment.) I'd still would like to see ERHE sell after drilling although I think that there are great forces that will prevent that from happening.

Thanks for putting down your thoughts, I was just in the process of doing the same....

Opus X

[Fishdog]

Remember that the return to the 100% working interest is a net figure of the whole production. You have to deduct the JDA's royalty off the gross to arrive at 'net to the working interest'.