I checked to see when were the times Erhc traded at .95 or so, and the corresponding oil price. As it turns out, there was one instance where Erhc was that high since the year 2006.
Here it is:
3/16/2006 $63.46
Based on this one data point, you may be right. Erhc **should*** be trading in the 90's given that oil is as high as it is right now.
YankeMike might want to check what the market cap was back in 2006 to make sure that no new shares were issued since then, as that would make a comparison strictly with shareprice less accurate.
This what I've been trying to say now for a while, and that is, the ascent to Erhc's current price level of 40's can be attributed directly to the increase in oil prices AND NOTHING ELSE. NOT DRILLING!!!
Hence, if and when drilling news comes out, the SP has a lot of room to move up. Oil prices alone should be taking us well into the 90s.
Krombacher
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