Airborne Gravity/Magnetic Survey Confirms Viability of Leads in ERHC Energy's BDS 2008 in Chad
ERHC's subcontractor, Bridgeporth Ltd. completes aero gravity/magnetic survey
HOUSTON, October 29, 2014 – ERHC Energy Chad, a subsidiary of ERHC Energy Inc. (OTCBB: ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa today announced that preliminary findings from an airborne gravity/magnetic survey of BDS 2008 in Southern Chad strongly confirm the viability of leads in two focus areas identified by ERHC's technical team after careful analysis of previously collected data. ERHC's sub-contractor, Bridgeporth Ltd., a specialist geosciences company, has completed the survey that began earlier this month.
The aerial survey, flown over 4,720 line kilometers, evaluated the hydrocarbon potential within ERHC's Block BDS 2008 in the area north of Esso's Tega and Maku discoveries in the Doseo basin and a second area situated east of and on trend with OPIC's Benoy-1 margin discovery in the Doba basin. Bridgeporth employed a three-sensor aircraft equipped with a GT-2A airborne gravity system for gravity recording and a G-822 Mobile Cesium Magnetometer for aeromagnetic recording. The aircraft was flown at an altitude of 150 meters.
"Bridgeporth conducted a precise data acquisition, and the first-order leveled raw free-air gravity and magnetic anomaly maps strongly confirm the viability of the leads," said ERHC's Senior Geoscientist Michael Shafie. "The findings are very impressive. While final processing and interpretation is currently going on, our team is already discussing proposals for the requisite follow-on seismic survey."
ERHC is pursuing a rift margin play in BDS 2008 similar to exploration strategies that led to recent major discoveries in East Africa. ERHC's focus areas in the Block are located on a rift margin along the Central African Shear Zone. Regional stratigraphic mapping indicates the presence of alluvial fan deltas and lacustrine deltas in ERHC's areas of interest, which provide both reservoir and seal rocks.
The Company has 100 percent of the interest in BDS 2008. To spread risk, ERHC management continues to discuss the possibilities of a farm-in into Block BDS 2008 with potential partners.
In addition to its oil and gas exploration interests in the Republic of Chad, ERHC holds interests in the Republic of Kenya, the Sao Tome and Principe Exclusive Economic Zone (EEZ) and the Nigeria-Sao Tome and Principe Joint Development Zone (JDZ). Last month, ERHC announced it is proceeding with Exploration Phase 2 in Kenya Block 11A, committing to either acquire 3D seismic or proceed directly to drilling one exploration well during the next two years.
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.
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.