Yes and you're right.
Hypothetically, if Kina is 500M barrels, that gives ERHC 100M barrels. At $5 per barrel that's a value of 70 cents. In my mind under that scenario, a $1 share price is fire sale bottom price. Our current 30 cents is about right, add 70 cents gets to a buck. In reality it's probably going over $2, maybe much higher. Logically that might be too high, but logic will not being in control.
Will it pull back? Hell if I know. There are over a dozen very promising prospects on that block. Once Kina shows 500M barrels the perceived value of those other prospects goes to X. And what will we hear about block 3 drilling and results? Will Sinopec break its silence about block 2? There's going to be so much going on that you won't be able to keep up with posts... refresh will just scroll unread posts on by. I look forward to it!
I have no clue what X is or how to figure it. We could go to $2, $3, even $5 and hold that price. We could run to $5 and tumble back to $1. I just don't know, and I don't know how to know.
I don't know what I'm going to do, and that's the truth. I'll make you this promise though... if it runs to $5 I will not be all in anymore. :-)
Fair enough?
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