Aban Abraham Drill Ship Sets Sail from Singapore
HOUSTON, December 17, 2008 - 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 announced that it has received confirmation that the Aban Abraham deepwater drill ship has departed the Sembawang Shipyard in Singapore and is on its way to Cape Town, South Africa.
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The ship has undergone extensive refurbishment in order to retrofit it to drill at water depths of one mile deep or more. In fact, the Aban Abraham is now capable of drilling in water depths of up to 2,100 metres (6,900 feet) having been upgraded from second generation to fourth generation capability.
ERHC's technical partners, Addax Petroleum and Sinopec, have jointly contracted with the ship's owner to drill up to ten wells in total comprising five firm well slots and five optional well slots. Well slots will be allocated under a separate agreement between Addax Petroleum and Sinopec. Addax anticipates taking possession of the Aban Abraham in the second half of 2009 after the ship completes drilling activities for another company. Its first assignment is off the coast of Ghana in the Gulf of Guinea.
The Aban Abraham was built in Holland in 1976 as a world class second generation drillship named the Pelerin. The drillship was operated from 1976 to 2002 in water depths of up to approximately 1,400 metres (4,600 feet) offshore west Africa, Norway, eastern Canada and Brazil and then cold-stacked until 2006 when purchased by Aban.
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.
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.