Replies to post #176116 on ERHC Energy Inc (ERHE)

[rayank]

ok bayfish, based on your quote below:
"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."
how does $14-$20 sound? :-)
Honestly, I would take $4-5 within the next year, and kick myself later if it goes to $10-20.
LOL
Ray

[YankeMike]

Bay: That's not really what I'm saying. I just think after the first wave of drilling, we will have a good idea of what's down there and then we can extrapolate for the remaining prospects in Blocks 2 through 4. Then add on some significant value for our huge EEZ rights and come up with a buyout figure. It's not an exact science. To be exact, we'd have to wait 5 to 7 years to complete the majority of EEZ drilling, then we can really pinpoint the buyout figure based solely on proven reserves instead of on the summation of proven, probable, and possible reserves.
Mike

[emdyal]

One of the big factors in the pricing equation conundrum is the Chinese hunger for oil !!!!! As always the final price for anything is what any particular entity in willing to pay !!!