ERHC Energy provides updates on JDZ, others

erhc03 September 2013, Lagos – ERHC Energy Incorporated, a publicly traded American company with oil and gas assets in sub-Saharan Africa, has updated shareholders on the company’s progress in the Joint Development Zone, JDZ, between Nigeria and the island of Sao Tome & Principe, and in other countries.

According to highlights of the company’s recent progress, the company said it was collaborating with other contracting parties to continue negotiations with the Joint Development Authority on how to progress with JDZ Blocks 2, 3 and 4.

On its activities in São Tomé and Príncipe Exclusive Economic Zone, EEZ, the company said it had concluded negotiations with the National Petroleum Agency (ANP-STP) on the EEZ Block 4 and 11 Production Sharing Contracts, PSCs.

It also disclosed that negotiations were continuing with an international operator interested in farming into its Kenyan Block 11, following a Letter of Intent entered into in May 2013.

The company said it had awarded a contract to Bell Geospace to acquire an airborne Full Tensor Gravity Gradiometry, FTG, survey of the Block, adding that it also conducted community outreach with government and local leaders to precede of the company’s exploration programme.

On its progress in Republic of Chad, the company said it had contracted ASAT (Archeologie et Socio-Antropologie au Tchad), an environmental consultancy with Chad expertise and experience, to conduct a comprehensive Environmental Impact Assessment, EIA, in accordance with the PSC.

The company also informed the shareholders that it had applied to the Chadian Ministry of Energy to harmonise its acreage with current determinations of prospectivity.

Giving highlights of the progress of its fundraising, the company said it was pursuing ongoing discussions with investment banks and brokers regarding potential new investments and financing facilities.

ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in Africa and the development of undeveloped and marginal oil and gas fields.

The company has restated its commitment to creating and delivering significant value for its stockholders, investors and employees, and to sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production.

– Ejiofor Alike, This Day

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