Replies to post #185398 on ERHC Energy Inc (ERHE)

[tryoty]

Tap, you can put the whole alphabet in there and it won't assign the value Sinopec has put on anything.

In your formula Sinopec could value B as nil and the JDZ as the prize. It can't be proven... only Sinopec knows.

[midtieroil]

So you are saying that all of Addax's other undrilled prospects were valued at 0 but not their JDZ assets. And you are also saying their probable and possible reserves were valued at nothing too. The JDZ is not categorized as proven, possible or probable at this time. Doubtful but you can put forth that theory if you wish. And what value did you assign to the proven reserves? How do you know that Sinopec did not assign a higher value? As I said nobody knows for sure but one thing I do know is that in my experience companies pay very little for unproven prospects which makes me very happy that ERHE did not sell prior to drilling or during drilling as some desperately tried to convince us was certain to happen. It didn't.

Anybody who thinks Sinopec paid enough for the JDZ assets of Addax must not be as optimistic as me about the value of those assets because I think Sinopec stole them and Gandur bailed too early. Time will tell.