This week, ERHC Energy Inc. is participating in the 14th UNCTAD Africa Oil, Gas & Minerals Trade & Finance Conference in Sao Tome. ERHC is a Gold Sponsor of the conference and the Company's President and CEO, Peter Ntephe, presented, "Oil and Gas Value Creation and Retention in Africa," which closely aligned with the theme of the conference, "Natural Resource Development: Value Creation and Retention."
This annual conference and exhibition is jointly organized by the United Nations Conference on Trade and Development (UNCTAD) and the Government of São Tomé and Príncipe, in cooperation with Cubic Globe Ltd. It runs through November 25th.
São Tomé and Príncipe is a developing country, whose economy is currently based on coffee, cocoa, small-scale agriculture and fishing. The Gulf of Guinea is one of the most productive regions in the world in terms of hydrocarbons and minerals, and São Tomé and Principe could become an important oil producer.
Located on the Gulf of Guinea, over the equator, approx. 220 km from the west shores of Africa, it is the second smallest state of the continent, after the Seychelles. The archipelago is of volcanic origin. It is made of the islands of São Tomé (854 km²) and Príncipe (136 km²). Additionally there are some small islets whose surface is up to 1001 km².
São Tomé and Principe and Nigeria, under the Joint Development Authority (JDA), are collaboratively managing the Joint Development Zone in which ERHC has interests.