These are rough numbers but if proven reserves are roughly valued at $8 per barrel, your price would indicated you feel that that after the first wave of drilling will confirm around 6 Billion recoverable.
Here is the pricing conundrum. If we have at least a 50% proven drilling report meaning that half of the formations we drill are proven, how can anyone value the probability of drilling the remaining 14 locations. And just to make it even more difficult throw the EEZ in there.
IMO....If there are any significant finds during this first wave of drilling the markets are going to have a hard time finding an equitable price for ERHE and its reserve potential.
It's a problem but of course not a bad one to have.
News 
Market Data 
Discover 
