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YankeMike

08/21/08 11:01 AM

#137675 RE: bayfisherii #137673

bayfisherii: Nice! I'll do my calculations and assumptions and post tonight.
Mike
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midtieroil

08/21/08 11:28 AM

#137688 RE: bayfisherii #137673

It really doesn't benefit anyone to throw out ridiculous numbers that aren't even close to being accurate. Even at $24 per bbl for proven and 14 billion proven, your valuation numbers for ERHE stock are not even close to reality. I suggest you go read the PSC and determine the net bbls ERHE gets after royalty, cost oil and tax oil. It isn't merely a matter of taking ERHE's block percentage and multiplying that by the total proven to arrive at ERHE's net bbls. That doesn't work.