ERHC Energy Inc. Completes Environmental Impact Assessment on Block BDS 2008 in Chad
December 02 2013 - 8:47AM
ERHC Energy Inc. (OTCQB:ERHE), a publicly traded American company
with oil and gas assets in Sub-Saharan Africa, today announced that
its wholly owned subsidiary, ERHC Energy Chad Ltd., has submitted
its completed Environmental Impact Assessment (EIA) of Block BDS
2008 to the government of the Republic of Chad. Once review of the
EIA is completed, ERHC can advance to the next step in its oil and
gas exploration work program: an aeromagnetic survey of BDS 2008.
ERHC has 100 percent of the interest in BDS 2008 in southern
Chad, which encompasses 41,800 square km., equal to more than 10
million acres. The Block stretches from Chad's western border with
Cameroon to the Eastern border with Central African Republic.
Aeromagnetic surveys are a common and cost-effective tool for
aiding geological mapping over large regional areas and locating
target areas for hydrocarbon exploration. ERHC plans to use the
information gathered through the aeromagnetic survey with more
detailed 2D seismic acquisition.
"With an exploration Block as big and spread out as BDS 2008, it
is essential that we use this proven and cost effective method of
mapping disturbances in the earth's magnetic field that are caused
by magnetic minerals in the upper regions of the earth's crust,"
said Gertjan van Mechelen, ERHC's exploration manager. "We have
identified two main areas of focus. One is north of Esso's Tega and
Maku discoveries in the Doseo basin and the other is east of and on
trend with OPIC's Benoy-1 margin discovery in the Doba basin. We
expect the aeromagnetic survey to help identify the most highly
prospective areas."
Based on its current understanding of the data, ERHC estimates
the resource potential in the two focus areas to be as much as 250
million barrels of oil equivalent (MMBOE).
The Block is located on the north edge of the Doba and Doseo
basin, where Esso and other operators have been active in
exploration and development projects for decades and have made
discoveries exceeding 1,290 MMBOE. The regional geology of BDS 2008
is dominated by the Pan African Shear Zone and associated rift
basins.
In addition to its holdings in Chad, ERHC has concluded a
farm-in agreement for Block 11A in northwestern Kenya with a
renowned integrated oil and gas company, which is pending approval
from the Government of the Republic of Kenya. The Company also
holds 100 percent of Blocks 4 and 11 of the São Tomé & Príncipe
Exclusive Economic Zone (EEZ) as well as working interests in six
Blocks in the Nigeria-São Tomé & Príncipe Joint Development
Zone (JDZ).
Those with questions are encouraged to reference the Company's
SEC filings, which are available at http://erhc.com/secfilings/ or
contact Daniel Keeney, ERHC's investor relations representative, at
dan@dpkpr.com.
About ERHC Energy
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.
ERHC is committed 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. For more
information, visit www.erhc.com.
Cautionary Statement
This press release contains statements concerning ERHC Energy
Inc.'s future operating milestones, future drilling operations, the
planned exploration and appraisal program, future prospects, future
investment opportunities and financing plans, future stockholders'
meetings as well as other matters that are not historical facts or
information. Such statements are inherently subject to a
variety of risks, assumptions and uncertainties that could cause
actual results to differ materially from those anticipated,
projected, expressed or implied. A discussion of the risk
factors that could impact these areas and the Company's overall
business and financial performance can be found in the Company's
reports and other filings with the Securities and Exchange
Commission. These factors include, among others, those relating to
the Company's ability to exploit its commercial interests in Kenya,
Chad, the JDZ and the Exclusive Economic Zone of São Tomé and
Príncipe, general economic and business conditions, changes in
foreign and domestic oil and gas exploration and production
activity, competition, changes in foreign, political, social and
economic conditions, regulatory initiatives and compliance with
governmental regulations and various other matters, many of which
are beyond the Company's control. Given these concerns, investors
and analysts should not place undue reliance on these statements.
Each of the above statements speaks only as of the date of this
press release. The Company expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statement to reflect any change in the Company's
expectations with regard thereto or any change in events,
conditions or circumstances on which any of the above statements is
based.
CONTACT: Dan Keeney, APR
DPK Public Relations
832-467-2904
dan@dpkpr.com
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