ERHC Energy

Comments of ERHC Energy's Peter Ntephe from Third Quarter 2008 Conference Call

noemail@erhc.com — Tue, 12 Aug 2008 15:00:00 GMT

The following comments were presented as part of ERHC Energy's Third Quarter 2008 Conference Call on August 12, 2008.

Erhc August Conf Call Final

View SlideShare presentation (tags: joint jdz guinea of)

Slide 1

Title Slide

Slide 2

(Dan Keeney)

Statements during this conference call may concern ERHC Energy Inc.’s future operating milestones. Such statements are subject to a variety of risks, assumptions and uncertainties. Please refer to our cautionary statements posted on the ERHC Energy Web site at www.erhc.com.

Slide 3

(Peter Ntephe)

Good morning! I am Peter Ntephe, Chief Operating Officer of ERHC Energy. I appreciate you taking time out of your busy day to learn about ERHC’s progress during the third quarter of fiscal year 2008.

With me on the call are:

James Ledbetter, ERHC’s vice president in charge of technical matters.

David Bovell, ERHC’s vice president in charge of corporate development.

Deon Warner of Warner & Associates, ERHC’s corporate counsel.

Mike Madigan and Michael Fitzpatrick represent ERHC on matters related to the government investigations.

We hold these investor conference call updates to keep you up to date on our recent progress and where we are headed in the near and longer term.

Slide 4

I am pleased to report that ERHC Energy remains on solid financial footing. Our cash assets continue to be substantial. And, with conservative cost controls in place, our expenses are down considerably from one year ago.

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Through the end of June 2008, ERHC had cash assets totaling $32.4 million, compared to $35.7 million at the end of the third quarter in fiscal 2007. This chart shows that since the second quarter of 2006 when we had an infusion of cash from the sale of participation interests in 2006, our cash reserves have diminished by approximately 13 million dollars.

Slide 6

A major factor in maintaining these substantial cash reserves is the fact that the strict cost controls we implemented throughout the company continue to be effective in reducing our general and administrative expenses. During the quarter, this expense category was down nearly 25 percent compared with the third quarter last year. You would have to go all the way back to fiscal 2005 to find the last time we had such low expenses in a quarter.

Slide 7

Worth noting is the fact that ERHC’s legal expenses were considerably lower in the third quarter than they were a year ago due to reduction in required assistance in connection with investigations of the company. At the same time, however, we pushed forward with a communications strategy to spread the word about ERHC at various conferences, which partially offset those savings.

Slide 8

Moving on to the milestones we reached this year….

It seems like a long time ago, but back in April ERHC’s board, management and shareholders gathered in Houston and online for our annual shareholders meeting. We received many positive comments about the meeting.

We have also been introducing ERHC Energy to the investment community through presentations in San Francisco and London. These have been very worthwhile as we have an opportunity to tell our story to new audiences and attract interest from those who were not previously familiar with ERHC.

The company also sent a delegation to Sao Tome and Principe to participate in a recent business forum focused on the Joint Development Zone. It served as an opportunity to show ERHC’s passion and commitment for the development of the region and for the people of Sao Tome & Principe.

We also are happy that the London Court of International Arbitration has clarified the basis for division of the outstanding 9% interest between Addax Petroleum and ERHC regarding JDZ Block 4. The ruling confirmed that ERHC’s share of Block 4 increased to 19.5 percent. Addax WILL CARRY the exploration and production costs associated with the additional 1.8 percent that we received. Addax will not however pay ERHC any additional consideration for the 7.2% that Addax received out of the 9%.

And we – along with our technical partners Sinopec and Addax Petroleum – have secured approval from the Joint Development Authority for the first drilling location in JDZ Block 2…

Slide 9

If you look to the right of this image, you can see where the Bomu prospect in JDZ Block 2 is in relation to the other prospects and the Obo Discovery in Block 1…

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And here is a closer view of Block 2 showing the Bomu prospect. Our technical partner, Sinopec, is the operator in JDZ block 2.

Slide 11

Looking ahead, we have a number of significant events that are sure to keep us busy, including completion of work on the Aban Abraham, assisting our technical partners in the effort to secure a rig to mitigate drilling delays, pushing forward with the growth strategy announced earlier in the year and responding to issues raised by some government representatives in Sao Tome and Principe about some of our rights in the JDZ.

Slide 12

Our latest information is that the Aban Abraham is expected to set sail in September. It has a commitment to another company before coming to ERHC’s technical partners, but the fact that work on the deepwater drillship is nearly complete is very good news.

We have a number of photos on our Web site if you would like to get a closer view of progress on the ship.

Slide 13

Since work on the Aban Abraham has been running behind schedule, Addax Petroleum has been working to secure a rig of opportunity. Addax wants to do all it can to meet its schedule for exploring the Kina Prospect in JDZ Block 4. We expect to continue assisting Addax in their efforts as needed.

Slide 14

Of course we will also be continuing to pursue the growth strategy we laid out at our annual shareholder’s meeting. There are many things that we look forward to sharing them with you when the time is right, but we can’t disclose yet because doing so would disadvantage the company in negotiations. We are exploring acquisition targets and financing options.

Finally, we are working to maintain good relations with the government and people of São Tomé & Príncipe in hopes of quickly resolving any questions about the status of ERHC’s interests in JDZ Blocks 5 and 6. As described earlier, ERHC sent representatives to the 2008 Investment Forum in São Tomé & Príncipe and we hope that our very visible involvement serves as an initial step toward addressing any questions.

Slide 15

In summary, we continue to make significant strides both financially and operationally that contribute to achieving our goal of maximizing shareholder value. Although many of the strategies that we are implementing do not bear fruit in a day or a week or a month, we are making progress step-by-step toward realizing the value of this company’s assets while responsibly managing risk.

Slide 16

Thank you very much for your time and interest in ERHC Energy. For more detailed information concerning the Joint Development Zone, the Nigeria-São Tomé and Principe Joint Development Authority, and the company’s Participation Agreements and Partnerships, I invite you to visit our Web site at www.erhc.com.

And now we would be happy to answer any questions you might have.

12-Aug-08 10:00 AM

Update from ERHC's Chief Operating Officer, Peter Ntephe

noemail@erhc.com — Wed, 30 Jul 2008 13:15:00 GMT

To ERHC Shareholders:

I am pleased to update the ERHC Energy family on the company’s recent progress.

We are happy that the London Court of International Arbitration has resolved the distribution of interests on Joint Development Zone (JDZ) Block 4 so that we and our consortium partner can focus entirely on starting drilling in JDZ Block 4 as quickly as possible. The issue related to a nine percent portion of Block 4 that was recovered from another consortium partner that had failed to meet certain obligations. The arbitration process was useful in clarifying the terms of our Participation Agreement with Addax.

As a result of the arbitration, ERHC now has a 19.5 percent interest in JDZ Block 4 (up from 17.7 percent). Addax Petroleum will continue to carry the costs associated with ERHC’s total interests in the Block. Throughout the process, ERHC and Addax Petroleum maintained their close working relationship.

Work continues on refurbishing the deepwater drillship Aban Abraham, which has been contracted by our technical partners Addax and Sinopec Corp. to commence drilling operations in the JDZ. We have posted a number of photographs of the ship on our Web site.

Addax continues its efforts to mitigate delays in the delivery of Aban Abraham by looking for a rig of opportunity. Addax is still pointing to the possibility that drilling in JDZ Block 4 will commence in due course. I continue to caution that there are many contingencies that affect operations of this nature and guidance for when exploratory drilling may commence could change. We will look to the operators of each of the Blocks to make the relevant announcements.

Also related to the JDZ, we understand that there have been reports on the status of our interests in Blocks 5 and 6. Our legal entitlement to those rights is recognized by international treaty and enshrined in comprehensive legal agreements. We remain committed to exploiting those rights. The Company is, however, working to understand the recently expressed concerns of representatives of the Democratic Republic of Sao Tome & Principe.

Meanwhile, ERHC is moving forward with its growth strategy. We are looking at the opportunities for listing or acquiring a subsidiary listed on an appropriate Exchange such as the Alternative Investments Market of the London Stock Exchange. The move will provide the means, in terms of capital and structure, for growth of ERHC’s asset portfolio.

We consider this growth strategy essential to diversify and mitigate the risks associated with being entirely tied to just one set of core assets in Gulf of Guinea. We have been discussing these initiatives with potential investors through our presentations at the RedChip Small Cap Investors Conference in San Francisco, the Growth Company Investors Show in London, the Sub Saharan Africa Oil & Gas Conference in Houston. We also participated at the Nortia Capital Partners’ Equities Conference by the Beach in Atlantic City. For those who have not been able to witness any of the presentations, a replay of the RedChip presentation is available online.

The events gave us an opportunity to spread the word about ERHC’s past and present, and its plans for the future. They also enabled us to engage personally with the investment community, to listen to questions and concerns, and to describe our vision for ERHC in the years to come. Our goal is to forge lasting and trusting relationships with investment bankers, fund managers, institutional investors, research analysts and the investment community as a whole. The feedback has been very positive and we are preparing to present at the 2008 Global Investment Symposium in Dubai, which runs October 26-28, 2008. It will of course take time to spread the message as far and as wide as we want but we have made it a priority to continue to tell ERHC’s story to the larger investment community.

Finally, work is well underway on ERHC’s third quarter financial report for the period that ended June 30th. We shall hold an Investor Conference Call on August 12, 2008 at 9:00 a.m. Eastern Time (8:00 a.m. Central Time). To participate, please dial 877-890-0968 (domestic) or 706-902-1710 (international) five to ten minutes before the call begins and reference the pass code 57619351.

A simultaneous live Webcast of the call will be available over the Internet and will be accessible by going to www.livemeeting.com/cc/erhcenergy/join and entering the Meeting ID: 7QC7M4 and Entry Code: 8JR#pbw.

A replay of the call will be available from Tuesday, August 12, 2008 at 10:00 a.m. Eastern Time through August 19, 2008 by dialing 800-642-1687 (domestic) or 706-645-9291 (international) and providing the following replay code: 57619351. In addition, the Webcast will be available for replay until September 12, 2008 by going to www.livemeeting.com/cc/erhcenergy/join and entering the Meeting ID: 7QC7M4 and Entry Code: 8JR#pbw.

ERHC Energy remains focused on enhancing value for the benefit of its shareholders. We continue to count on your trust and support.

Sincerely,

Peter Ntephe
Chief Operating Officer

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.

30-Jul-08 8:15 AM

Q&A with Chief Operating Officer Peter Ntephe Regarding ERHC Energy Inc. Growth Strategy

noemail@erhc.com — Tue, 17 Jun 2008 20:00:00 GMT

ERHC Energy Inc. Chief Operating Officer Peter Ntephe recently sat down for an interview regarding issues related to the Company’s growth strategy.

Q: Tell us what ERHC does.

Peter Ntephe, chief operating officer, ERHC Energy Inc.: ERHC has assets in West Africa. The company is an energy investment company. It trades on the OTC Bulletin Board. Our headquarters are in Houston, Texas. Our basic assets right now are in oil and gas in the Gulf of Guinea off the coast of central West Africa. There are two areas in the Gulf of Guinea in which we have assets: the Nigeria and Sao Tome & Principe Joint Development Zone (JDZ) and the Sao Tome & Principe Exclusive Economic Zone (EEZ).

Our current focus is on the JDZ, which is divided into nine Blocks. ERHC has interests in six of the Blocks. In JDZ Blocks 2, 3 and 4, we are working with technical partners. In Block 2 we are working with Sinopec (NYSE: SNP) and the Sinopec/ERHC consortium is the operator of the Block. In Block 3, we are working with Sinopec and Addax Petroleum (TSX: AXC and LSE: AXC), but we are not the operator. Anadarko is the operator of JDZ Block 3. In JDZ Block 4, we are working with Addax and the Addax/ERHC consortium is the operator.

ERHC also has interests in JDZ Blocks 5, 6 and 9. In JDZ Blocks 5 and 6, In JDZ Blocks 5 and 6, rights have been awarded but production sharing contracts have not yet been signed. As for JDZ Block 9, ERHC has preferential rights that have been exercised, but the bidding for the Block has not yet occurred. Whenever the rest of the interests are awarded, ERHC’s rights kick in.

Q: How big is the company?

PN: Our market capitalization is about $360 million.

Q: How far away do you think oil is?

PN: JDZ Blocks 2, 3 and 4 are the nearest to exploratory drilling. We are expecting that drilling will start later this year or at some point next year. Once we start drilling, we expect that first oil will be at least three years away. So if we take 2009 as a benchmark date, we are talking about first oil sometime in 2012 or so.

Q: Your stated strategy is to form or acquire a subsidiary of ERHC that does not involve any of the Gulf of Guinea assets. How would that fit into your overall strategy?

PN: We regard the Gulf of Guinea assets as the jewel in our crown. We are confident of the massive revenue potential of our assets in the Gulf of Guinea. However, we also believe that we must balance our portfolio. Therefore, we are looking for companies that have revenue producing assets or we will form a subsidiary to purchase revenue producing assets directly. We don’t want to mix our Gulf of Guinea assets with these new assets because doing so could undermine our efforts to achieve greater diversification and mitigate risk.

Q: And ERHC would own this other company – whole or in part?

PN: Yes. We would acquire assets under a separate subsidiary. All the assets will belong to ERHC, but we plan to keep them under separate distinct structures. That’s basically why we have a plan to list a subsidiary on the Alternative Investments Market (AIM) of the London Stock Exchange or acquire a subsidiary that is already listed and use that to hunt for new assets in West Africa and beyond.

Q: What kind of company are you looking at? What stage would they be at?

PN: The assets will need to be revenue producing. We can either start our own company and get it listed on the AIM, or we can buy into a company that is already listed – either purchase 100 percent or buy a controlling interest. Each option has its advantages and disadvantages, so we are considering both options and expect to settle on one very shortly.

Q: How big will these companies be? Will they be Africa-based companies or in different geographic area?

PN: It’s not so much geography as it is the mix of assets. What kind of assets do they have? Where are those assets located? We are looking at synergies and how they complement what we already do. And we are looking at taking advantage of our comparative strengths, which fall primarily in West Africa. So let’s create a make-believe scenario to illustrate the point. We examine a U.K. company listed on AIM that has assets in the Gulf of Guinea. The due diligence determines we can comfortably acquire a stake in that company and the company was receptive to our approach. Then we could acquire a controlling stake and we could achieve two things at once. First, we have diversified by adding assets in West Africa – preferably producing assets. Second, we have an AIM-listed subsidiary. But if it’s not possible to find such a company within our time limits, then we can look into creating one ourselves, listing it on AIM and acquiring assets that fit our criteria.

Q: So in an ideal world, if you found a company that met all your criteria, you would acquire it, but if it’s not out there or you can’t acquire it, you would be open to starting your own company?

PN: Yes. Exactly.

Q: Are you working with any investment banks or lawyers? Have you established a corporate structure?

PN: Recently, ERHC engaged a vice president in charge of corporate development whose specialization is corporate finance for small- and medium-cap companies. This is entirely within his limits. Already, ERHC has a group of expert consultants – investment bankers, investment lawyers who have worked with us throughout the years. So we have quite a pool of talent among our expert consultants. David Bovell, the new vice president corporate development, has come in and he has a pocketbook of contacts that he is mining as we speak to put together a specific team to advise us. But it all depends on which way we go. Are we forming a new subsidiary and seeking listing, or are we acquiring a controlling stake in a company that already is listed? Either option requires slightly different pools of expertise.

Q: We have seen a lot of talk about consolidation in the oil and gas industry. Do you think your company might be an acquisition target?

PN: We have a definite growth strategy, but having said that, we are in a business. If someone was to make an offer that had a substantial premium, we would consider selling. But our plans are to grow this company and to enhance shareholder value. The best thing to do is to grow the company to such an extent that whether it is to grow more or to look at being acquired would deliver the optimal value to our shareholders. That is the key question: what will deliver optimal value to our shareholders over time?

Q: What is your timeframe for pursuing the growth strategy versus entertaining acquisition opportunities?

PN: The goal is not necessarily that we be acquired, but it is an option we are not ruling out. Our current focus is to grow the company and enhance shareholder value. As you can see, our strategy is really to acquire smaller companies. If, in due course, we become attractive to much bigger companies and the price is right, then it will be considered. But this is a decision that is really for the shareholders and not for me to make. Looking forward five years, our strategy is to make ERHC as big and as good a company in terms of delivering shareholder value as we can.

Q: Tell us about the types of companies you are looking to acquire.

PN: We are looking at oil and gas companies as well as companies in mining and minerals. Most important, we are looking at situations in which one plus one makes five. That’s the kind of company we are looking at, and sometimes you can’t really set a value on that kind of company. You could have a company with a market capitalization of $1 million, but the addition of our technical, financial and geographic expertise can compound the value many times over – and it would be reflected in our combined market cap. At the same time, there are companies that would not be a good fit and would diminish our overall value. So our key questions will be 1) How does this company fit with what we are doing; and 2) How affordable is it – how can we finance the acquisition?

Q: As far as price tags for that company, how high would you consider going?

PN: We are working with advisors on that. It would depend on affordability and the synergies that those companies give us. ERHC is an ambitious company. We will not necessarily be put off by price, as long as we can see that there are synergies here and our investment advisors are innovative in terms of the financing methods used. That said, we would do what’s reasonable. We will not imperil this company just to make an acquisition.

Q: So if your market cap is $360 million, you won’t pursue a company that is bigger than your company.

PN: Probably not. Having said that, if our investment advisors can formulate terms that are affordable and the company is the right fit, why not?

Q: What else do you see happening in the next two to three years?

PN: In the next two to three years, we see exploratory drilling in the JDZ in the Gulf of Guinea, possibly some major discoveries. We also see ERHC as a much bigger company with a diversified asset portfolio. It will have subsidiaries and producing assets. We will be enhancing shareholder value.

About ERHC Energy

ERHC Energy Inc. is a publicly traded American company with valuable oil and gas assets in the in the highly prospective Gulf of Guinea. ERHC is committed to creating and delivering significant value for its shareholders, investors, and employees; sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production. For more information, visit www.erhc.com.

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 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 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.

17-Jun-08 3:00 PM

Comments of ERHC Energy's Peter Ntephe from RedChip Small-Cap Investors Conference

noemail@erhc.com — Fri, 06 Jun 2008 22:00:00 GMT

ERHC Energy Chief Executive Officer, Peter Ntephe, made the following comments in his presentation on June 5, 2008 to the RedChip Small-Cap Investors Conference in San Francisco. You can view a replay of his presentation by clicking HERE and scrolling down to the ERHC Energy logo.

Mr. Ntephe also was interviewed on RedChip TV shortly before his presentation. You can view of replay of that interview by clicking HERE and scrolling down to the ERHC Energy logo.

Click on the presentation image to the right to download the slides from the presentation.

SLIDE 1

(Title Slide)

SLIDE 2

Statements during this meeting may concern ERHC Energy Inc.’s future operating milestones. Such statements are subject to a variety of risks, assumptions and uncertainties. Please refer to our cautionary statements posted on the ERHC Energy Web site at www.erhc.com.

SLIDE 3

Thank you for the opportunity to introduce you to ERHC Energy Inc. I am Peter Ntephe, chief operating officer and acting CEO of the company.

I hope you will bear with me and forgive my accent. I am a citizen of Nigeria who lives in the U.K. and make frequent visits to our headquarters in Houston, Texas, so I will speak slowly so you don’t get confused by my Texas accent!

SLIDE 4

ERHC Energy is a company unlike any other. Years ago, it made a breakthrough in an undervalued and under-appreciated part of the world. Through hard word and determination, we are now at a point where the value of that find is about to be realized…and now we are taking that blueprint and pursuing other discoveries in parts of the world others either have overlooked or are afraid to venture into.

But let’s address the simple question that everyone is asking: Why should you consider investing in ERHC Energy?

SLIDE 5

Our first breakthrough was a region of the world that ERHC Energy determined held great promise as an oil producing area. In fact, the experts have estimated that the area in which ERHC has rights to explore for oil and gas has a combined estimated recoverable reserves potential totaling 14.4 billion barrels of oil.

Yes, 14.4 billion barrels of oil. With a “B.”

SLIDE 6

You may have heard a thing or two about oil in the past few months. Oil prices have doubled in the past 12 months and have risen approximately 500 percent in the past six years. The bottom line is that oil assets have never been more valuable than they are today.

So where is this oil?

SLIDE 7

It is here off the coast of central West Africa in an area known as the Gulf of Guinea. To give you a sense of perspective, you see the United States here with nothing but the Atlantic Ocean in between.

SLIDE 8

In a nutshell, there are two adjacent areas in the Gulf of Guinea in which ERHC Energy has interests. One is the Joint Development Zone and the other is the Sao Tome & Principe Exclusive Economic Zone. We’ll describe each in more detail in a moment, but suffice it to say, we have succeeded in gaining a significant presence throughout the region.

SLIDE 9

The experts have analyzed what lies below the Gulf waters and they estimate that the combined recoverable reserves potential through the Joint Development Zone Blocks totals 14.4 billion barrels.

SLIDE 10

Of course, ERHC Energy is not the only company active in the region, so we can’t claim all of that. But ERHC’s rights do make up about 12 percent of the JDZ and our rights stretch across six of the nine JDZ Blocks. We won’t know for sure what our share of oil will be until exploration is complete and production is underway, but these estimates offer a general sense of the massive scale of the opportunity there.

SLIDE 11

Fortunate, drilling is very close. The operators of two of the JDZ Blocks have indicated that drilling could begin before the end of the year.

SLIDE 12

And ERHC has entered into advantageous strategic partnerships that align us with experienced exploration and production companies willing to pay our portion of the upfront costs. The partners will be reimbursed from ERHC’s share of the oil.

I know I have just presented you with a LOT of information, so I am going to back up and take a few moments to explain how we got to the verge of this great breakthrough.

SLIDE 13

This is a story of risk and reward. A story of foresight, vision and courage. A story of sweat and toil. And above all a story of an outstanding business strategy.

It begins in 1997. ERHC Energy had several initiatives underway in the Gulf of Guinea area off the coast of central West Africa and noticed that the golden thread in the waters here is oil, lots of oil.

The Gulf of Guinea is one of the most prolific hydrocarbon provinces of the world. You see Nigeria to the North, and Cameroon and Equatorial Guinea to the East.

And here you see the Democratic Republic of Sao Tome & Principe, an island nation that actually sits atop an ancient volcanic formation. What you see poking up above water are the very tops of very steep volcanoes. The water surrounding these islands can be as deep as 10,000 feet in some places.

Over millions of years, the Niger River deposited organic sediments out to sea, which became crude oil.

SLIDE 14

There are world class oilfields in operation from Nigeria thru Equatorial Guinea and Gabon, down to Angola.

The Niger Delta has estimated proven oil reserves of 48 billion barrels.

These are a few of the notable discoveries, ranging in size from 500 million barrels to 1 billion barrels of oil.

SLIDE 15

In the middle of this however, are waters belonging to the island nation of the Democratic Republic of Sao Tome & Principe. At the time, the area did not attract the attention of the oil establishment. AND SO, ERHC saw an opportunity. FORESIGHT and VISION.

The waters are very deep – about one mile deep and up to two miles in certain places. The technology for drilling for oil that deep was scarce at the time. The big oil companies were not interested. SO ERHC seized the opportunity. COURAGE.

We expressed our interest in helping Sao Tome & Principe develop their oil assets and in 1997 our hard work culminated in a joint venture agreement with the government. We were the first. [EMPHASIS] BEFORE ANYONE ELSE IN THE INDUSTRY.

CLICK

These efforts ultimately were instrumental in the establishment of the Sao Tome & Principe Exclusive Economic Zone…

And the Joint Development Zone, between Nigeria and Sao Tome. RISK AND REWARD.

SLIDE 16

In exchange for our efforts and the payment of a concession fee, ERHC was granted preferential rights to participate in exploration in the region’s deep waters. Specifically, in the São Tomé and Principe EEZ, which is shaded, ERHC Energy has rights to receive 100 percent of up to two blocks of ERHC’s choice AND the option to acquire up to a 15 percent paid working interest in another two blocks of ERHC’s choice.

SLIDE 17

With these successes behind it, did ERHC rest on its laurels? NO.

In 2005 and 2006, we leveraged our rights to establish alliances with world-class technical partners, Addax Petroleum and Sinopec.

SLIDE 18

Selling participating interests to Addax and Sinopec injected more than $45 million into ERHC – enough to sustain years of operations. Entering into production sharing contracts in Blocks 2, 3 and 4 was an important step toward commercializing the Company’s interests in the JDZ and increasing shareholder value.

SLIDE 19

Today, ERHC’s Rights Include:

Block 2: 22%
Block 3: 10%
Block 4: 26.7% - subject to a possible transfer to Addax Petroleum related to a matter currently being negotiated…
Block 5: 15%
Block 6: 15%
Block 9: 20%

Overall, our interests account for approximately 12 percent of the JDZ.

SLIDE 20

There have been numerous studies of the prospectivity of the region.

This image provides a general sense of why we are enthusiastic about our assets in the Gulf of Guinea. The image is a 3D view of the structural elements in JDZ Blocks 1, 2, 3 and 4. From left to right, the arrows point to the following:

The Lemba Prospect, which the Joint Development Authority (JDA) has approved as the first drilling location in JDZ Block 3. Anadarko is the operator in JDZ Block 3;

The Kina Prospect, which the JDA has approved as the first drilling location in JDZ Block 4;

The Obo Discovery and Kainji Prospect in JDZ Block 1 (ERHC does not have interests in JDZ Block 1);

The Principe Prospect in JDZ Block 2 in which Sinopec is the operator. This prospect is still under consideration.

SLIDE 21

This is a view from the side of the different layers of sediment and rock beneath the Gulf of Guinea at the Kina Prospect in JDZ Block 4. A hump-like formation is generally recognized as a sign of oil and gas prospectivity.

SLIDE 22

One of the early studies of JDZ prospectivity was WesternGeco’s interpretation of a 2-dimensional seismic survey shot in 1999. It found literally dozens of prospective structures – nearly FIVE DOZEN in all – stretched out across the nine JDZ Blocks.

SLIDE 23

At current prices of $125 per barrel, these findings suggest that there could be well over a TRILLION DOLLARS of oil in the JDZ.

SLIDE 24

Western Geco’s interpretation further broke down the reserve potential for the JDZ Blocks that are closest to exploration in which ERHC has interests. The numbers you see here are in MILLIONS of BARRELS of OIL.

This analysis indicated that the total reserve potential for JUST JDZ Blocks 2, 3 and 4 could be more than five billion barrels – prior to deductions.

SLIDE 25

Recognizing that first oil is at least three to five years away, we are not taking a “wait and see” approach. We are pushing forward aggressively with an initiative to accelerate growth by duplicating what we have been able to accomplish in the Gulf of Guinea…

SLIDE 26

Our strategy is to form or acquire a subsidiary of ERHC Energy Inc. that does not involve any of the Gulf of Guinea assets that we have been discussing. The company would initially be owned by ERHC Energy Inc. directly or through its wholly owned Cayman holding company. That subsidiary will be listed on the Alternative Investments Market of the London Stock Exchange.

SLIDE 27

The idea is to achieve more by accessing the additional pool of capital through the AIM. We will be creating a separate asset pool for the company without in any way diluting current shareholders.

ERHC Energy Inc. will retain a large percentage of the U.K.-listed company. There would be a common management team that would be managing both, which can create synergies.

In due course, we would seek to invest in assets that leverage our strengths in central West Africa. We envision the new subsidiary will have substantial assets of its own and we are examining opportunities in energy, minerals and other natural resources.

SLIDE 28

And, after a great deal of careful consideration of capital market alternatives, we will be working to position ERHC Energy Inc. to move from the OTC to another exchange in the next 12 to 18 months. While we are still considering whether the NASDAQ or AMEX would be a better fit, we believe that we can achieve enhanced exposure and liquidity, while at the same time providing investors with greater transparency in terms of pricing and execution. We feel the move to a different exchange will be an important step toward future growth of ERHC Energy.

SLIDE 29

In closing the presentation, we can say with confidence that we are closer than ever to beginning exploration in the Gulf of Guinea and expect that by this time next year exploration will be underway – possibly in two of the JDZ Blocks in which ERHC has interests…with a third not far behind.

And we will also be executing our strategy to duplicate these successes elsewhere – discovering undervalued assets in parts of the world others have failed to recognize and efficiently bringing them to market. That is our core competency.

SLIDE 30

Thank you for the opportunity to introduce you to ERHC Energy Inc. I would be happy to entertain any questions.

6-Jun-08 5:00 PM

ERHC Energy Profile for RedChip Small-Cap Investor Conference

noemail@erhc.com — Wed, 04 Jun 2008 16:00:00 GMT

ERHC Energy Profile

Website:                  www.erhc.com
Company Name:   ERHC Energy Inc.
Ticker:                      ERHE (OTCBB)
Sector:                     Oil & Gas
Industry:                  Energy
Market Cap:            $305 million (As of 5/12/08)
Share Price:           $0.42 (As of 5/12/08)

CEO: Peter Ntephe (acting)

AT-A-Glance (As of 5/12/08)

Fiscal Year:                                                 10/1 thru 9/30
52 Week High – Low:                                $0.61 - $0.16
Price/Earnings (ttm):                                 NA
Price/Book (mrq):                                       9.301326
Price/Sales (ttm):                                       NA
Book Value Per Share (mrq):                   $0.04515
Operating Margin (ttm):                             NA
Average Volume (3 Mos as of 5/12/08): 668,576
Shares Outstanding:                                 722 million shares
Float:                                                             498.6 million shares

Company Description:

ERHC Energy Inc. – Deep Opportunity

ERHC Energy Inc. is a publicly traded American company with valuable oil and gas assets in the highly prospective Gulf of Guinea. ERHC’s common stock is traded on America’s Over the Counter Bulletin Board under the symbol “ERHE.”

ERHC is a visionary energy investment company that sees opportunities before others and relishes the challenge of bringing its vision to life.

To date, ERHC Energy’s primary focus has been the Gulf of Guinea, off the coast of central West Africa. In recent years, this region has emerged as one of the most prolific hydrocarbon regions in the world.

ERHC’s assets include interests in six of the nine Blocks of the deepwater Joint Development Zone (JDZ). The 34,548 square kilometer area about 200 kilometers off the coastline of Nigeria and the Democratic Republic of São Tomé & Principe is adjacent to several large petroleum discovery areas. The operators of two JDZ Blocks in which ERHC has interests have indicated that exploratory drilling will begin as early as the fourth quarter of 2008.

Highly Prospective Blocks

An analysis of a 2D seismic survey of the JDZ by Western-Geco enabled the identification of 56 prospective structures within JDZ Blocks 1 to 9, of which 17 were defined as prospects and 39 as leads. Using reservoir parameters similar to those known from nearby fields in Nigeria and Equatorial Guinea, WesternGeco estimated combined recoverable reserves potential of the 17 prospects to be 14.4 billion barrels of oil.

ERHC Energy has additional interests in the territorial waters of São Tomé and Principe known as the Exclusive Economic Zone (EEZ). This area encompasses about 160,000 square kilometers.

Current Focus

The Company’s current focus is on exploiting its rights in the JDZ. During the past two years, ERHC has formed alliances with Addax Petroleum and Sinopec Corp., both of which are experienced exploration and production companies.
ERHC has signed participation agreements with Addax and Sinopec subsidiaries for the development of JDZ Blocks 2, 3 and 4.

In São Tomé and Principe’s EEZ, ERHC’s rights to participate in exploration and production activities include the right to receive up to two blocks of its choice and the option to acquire up to a 15 percent paid working interest in another two blocks of its choice.

ERHC also is working to diversify its holdings and build upon its assets in the Gulf of Guinea through a carefully executed acquisition strategy aimed at viable revenue producing properties. The Company is also examining stock listing alternatives, including listing a subsidiary on the London Stock Exchange’s AIM.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms on this Web site, such as "recoverable reserves potential," that the SEC's guidelines generally prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K. You may review our filing with the SEC here.

4-Jun-08 11:00 AM