YankeMike: Assuming that the New Sub had $13 million in revenues and issued a 5% dividend with $6.5 million of it's yearly cash earnings. The Market cap would be $130 million dollars. 20 million shares @ $6.50 with a yearly dividend of 0.325 or 5%. This would add .179 cents of value to each ERHE shareholder for only 5 miliion barrels of oil in the New Listed AIM'S stock.
The New Sub's proven reserves 5 million barrel @ $8.00 each = $40 million value divided by 20 million share = $2.00 each for the New IPO AIM'S Stock. Now add in the earnings valuation when production starts at 10 times earings before dividends of .65 = $6.50 a share and one would have a nice ride up in share price plus dividends.
Now using the same type of formula for ERHE's 336 million barrels of the JDZ's NSAI numbers for net earnings. 336/5=67.2 x .179 = $12.02 for ERHE.
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