Replies to post #10345 on JDZ Nigeria-Sao Tome e Principe

[YankeMike]

vineseeker2: Well said, and I agree with you. There's no way of telling if there will be a buyout this year or in 3 years. Or maybe SEO wants to wait until production begins.

Either way, it's going to be an interesting journey!

Mike

[bayfisherii]

The 27.75 was my number and that is based on a 20 billion dollar buy-out. If SEO does not sell then all bets are off.

I think that for SEO to secure the protection he (and his family and friends) need, plus be able to secure his role in the future of energy development in the GOG, Sao Tome and Nigeria he will be looking for 10 Billion (his share). Can he get it....no one knows except the Chinese at this juncture.

Ultimately if he does get a 20 billion dollar number I think it would have to include all of ERHC including both JDZ and EEZ.

One final thought, to achieve the $27.75/share the Chinese would have to know that the JDZ (Blocks 2, 3 & 4) contain at least 8 billion barrels of oil or oil equivalents (oil, gas & gas condensate) and the EEZ blocks 4 & 11 would have to have the potential to contain at least another 1 billion barrels of oil equivalents. While at this juncture none of us knows, these numbers certainly do not seem out of the range of possibilities.

BTW: for those who want to check my math I placed an $8.50 Bbl value for known reserves.


And for those of you that have been with this stock as long as I have now (5 years) watch and see what the bashers post when they see my numbers. My views fly in the face of their negativity.

JMO
Bayfisher