Of course share price and market cap matter. Right now ERHC's entire market cap is 60 million and many people seem to expect that ERHC will get somewhere near that amount for 50% of one block in Kenya when ERHC paid a few hundred thousand for that block a year ago. With new blocks coming on line from Kenya, who is going to do that? Sixty million is probably about what it will cost to get one hole in the ground when you consider all the required testing and then the drilling cost.
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