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ERHC seeks clarification from JMC of the Nigeria - Sao Tome and Principe JDZ


Published Sep 9, 2008
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ERHC seeks clarification from JMC of the Nigeria - Sao Tome and Principe JDZ

ERHC Energy Inc., a publicly traded American company with oil and gas assets in the highly prospective Gulf of Guinea off the coast of central West Africa, is seeking the reaffirmation of government officials regarding the Company’s rights in Joint Development Zone (JDZ) Blocks 5 and 6. In May 2005, the Nigeria-São Tomé and Príncipe Joint Development Authority (JDA) confirmed ERHC Energy’s 15 percent interest in the Blocks.

ERHC is committed to exploiting its rights and meeting its contractual obligations in the JDZ. The Company wants to eliminate uncertainty stemming from recent press reports in which members of the JMC were quoted. The reports raised questions about the status of ERHC rights in JDZ Blocks 5 and 6.

Letters sent by ERHC Energy Chief Operating Officer Peter Ntephe to the Joint Ministerial Council (JMC) of the Nigeria-São Tomé and Príncipe JDZ and to the JDA, which manages the JDZ, assert the company’s intent and commitment to exploit its rights in JDZ Blocks 5 and 6.

“We have the utmost respect and regard for the JMC and JDA, and we hope that media reports questioning our rights in JDZ Blocks 5 and 6 are erroneous, in which case we respectfully apologize for raising the issue,” said Mr. Ntephe.

The letters also declare that if ERHC’s rights in JDZ Blocks 5 and 6 are tampered with or compromised, the Company will take all necessary legal steps to protect its corporate interest.

ERHC Energy has interests in six of the nine Blocks in the offshore JDZ between Nigeria and the Democratic Republic of São Tomé & Príncipe. The Company has additional interests in the territorial waters of Democratic Republic of São Tomé & Príncipe known as the Exclusive Economic Zone (EEZ).

Tags: ERHC Energy Inc.




   

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