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ERHC Energy acquires block in Sao Tome & Principe EEZ


Published Feb 17, 2010
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ERHC Energy

ERHC Energy Inc.says that the National Petroleum Agency of Sao Tome & Principe (ANP-STP) on behalf of the Government of Sao Tome and Principe has confirmed the award to ERHC of 100 percent working interests in Blocks 4 and 11 of the Sao Tome & Principe Exclusive Economic Zone (EEZ). The confirmation follows ERHC's exercise of rights arising from prior agreements between ERHC and Sao Tome & Principe.

The ANP-STP has indicated that it expects to invite ERHC to negotiate Production Sharing Contracts (PSCs) on the two Blocks in due course.

The Sao Tome & Principe EEZ encompasses an area of approximately 160,000 square kilometers south and east of the Nigeria/Sao Tome & Principe Joint Development Zone and surrounding the volcanic islands of Principe and Sao Tome. Block 4 is situated directly east of the island of Principe. Block 11 is directly east of the island of Sao Tome. A map of EEZ block delineations is available on the Company's website at www.erhc.com/EEZ-Blocks.

"We have a special corporate bond with the government and the people of Sao Tome & Principe and we look forward to the successful negotiation of PSCs in order to take our mutual interests to the next level," said ERHC Chief Operating Officer Peter Ntephe.

Tags: ERHC Energy Inc.




   

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