Contact Information: Contact: Daniel Keeney, APR DPK Public Relations 832-467-2904
ERHC Energy Inc. Updates Shareholders on Drilling in the JDZ
| Source: DPK Public Relations
HOUSTON, TX--(Marketwire - October 8, 2009) - ERHC Energy Inc. (OTCBB : ERHE ), a publicly
traded American company with oil and gas assets in the highly prospective
Gulf of Guinea off the coast of West Africa, today issued the following
update on Company activities from Peter Ntephe, chief operating officer.
To ERHC Shareholders:
I am happy to report that drilling is progressing on schedule in the Joint
Development Zone (JDZ) Blocks in which ERHC has interests.
Addax Petroleum Corporation ("Addax"), the operator of JDZ Blocks 3 and 4,
has finished drilling a well at the Kina Prospect in Block 4 in which ERHC
has a 19.5 percent interest. Based on the early analysis done to date, the
well encountered hydrocarbons, but a detailed evaluation of information
from the well has only just commenced so it is far too early for any
conclusions to be drawn on the extent and quality of the hydrocarbon system
encountered. A comprehensive analysis that incorporates the drilling
results into relevant geologic and fluid models will now be carried out.
Following the initial drilling operation in Block 4, the Deepwater
Pathfinder has moved to the Lemba 1X well location in JDZ Block 3 in which
ERHC has a 10 percent interest. Exploratory drilling at Lemba 1X commenced
yesterday. We estimate it will take approximately five weeks, although the
actual timing is dependent on many factors, such as drilling penetration
rate, fluids encountered, borehole stability and equipment maintenance,
among others.
Once done with the Lemba 1X well, the Deepwater Pathfinder will move back
to JDZ Block 4 to drill two additional wells. The specific drilling
locations of these additional Block 4 wells will be determined in due
course.
Sinopec JDZ Block 2 Limited ("Sinopec"), the operator of JDZ Block 2 in
which ERHC has a 22 percent interest, has also finished exploratory
drilling at the JDZ Bomu-1 well location. Based on the early analysis done
to date, natural gas is discovered, but again a detailed evaluation of
information from the well has only just commenced so it is far too early
for any conclusions to be drawn on the extent and quality of the
hydrocarbon system encountered.
This is an exciting time for the ERHC family. When this initial drilling
campaign is completed, a total of five wells will have been drilled. Each
well will be evaluated using several standard oilfield methods and the rock
properties and reservoir fluids will be measured and evaluated.
As we stated previously, the purpose of this process is to test scientific
conclusions and gather additional information. The information from these
wells is helping the exploration team understand the geology and
hydrocarbon potential of the various prospects being drilled. Perhaps more
importantly, it is helping us understand the prospectivity of the entire
area. This is a highly technical process that takes considerable time. The
parties are working to ensure that operations are conducted to the highest
industry standards. The focus is quality of work put into each well, not
undue haste.
We are as excited about getting drilling results as the investment
community is. In accordance with the practice in the JDZ, accurate,
material information on the progress in the JDZ Blocks will emanate from
the operators or the Joint Development Authority. ERHC will publish such
information in a timely manner in accordance with our contractual and
regulatory obligations.
The operators will determine when it is appropriate to release the drilling
results. Sinopec has announced that its drilling results might be released
in the fourth quarter with a caveat that such release is contingent upon
numerous factors. Addax is expected to provide guidance in due course on
the release of its results.
We appreciate the support of our shareholders and share their excitement.
If you have questions, please submit them to Dan Keeney, our investor
relations representative, at dan@dpkpr.com.
Sincerely,
Peter Ntephe
Chief Operating Officer
About ERHC Energy
ERHC Energy Inc. is a Houston-based independent oil and gas company focused
on growth through high impact exploration in the highly prospective Gulf of
Guinea and the development of undeveloped and marginal oil and gas fields.
ERHC is committed to creating and delivering significant value for its
shareholders, 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.
This document 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 shareholders' meetings, response to the Senate
Subcommittee investigation, developments in the SEC investigation of the
Company and related proceedings, 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 the JDZ and the
exclusive territorial waters of Sao Tome and Principe, 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 document. 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.