ERHC Energy Inc. Reports Fourth Quarter and Year End 2009 Financial Results
HOUSTON, December 14, 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 announced its results for the fourth quarter and fiscal year ended September 30, 2009. Access the full 10-K report here.
“This has been a year of numerous significant accomplishments, including the implementation of a coordinated exploratory drilling strategy across three of the Blocks in the Nigeria-São Tomé & Príncipe Joint Development Zone in which we have interests,” said Chief Operating Officer Peter Ntephe. “We anticipate that the pace of progress will continue to accelerate as the São Tomé & Principe Exclusive Economic Zone moves closer to its first licensing round.”
As of September 30, 2009, ERHC reported cash assets totaling $22,428,728.
During the 2009 fiscal year, ERHC’s general and administrative expenses were $4,202,809, which reflects a decrease over the general and administrative expenses in the 2008 fiscal year. The decrease arises from careful management of the Company’s operations and expenditures. The Company had a net loss of $7,689,137 during the 2009 fiscal year.
ERHC will hold its quarterly conference call on Tuesday, December 15, 2009 at 9:00 a.m. Eastern Time. ERHC Chief Operating Officer Peter Ntephe will lead a discussion of the Company’s financial performance and operating highlights.
To participate, please dial 888-721-1403 (domestic) or 706-758-1074 (international) five to ten minutes before the call begins and reference the pass code 45263070.
A simultaneous live Webcast of the call will be available over the Internet and will be accessible by going to https://www.livemeeting.com/cc/erhcenergy/join and entering the Meeting ID: 4T4SBK and Entry Code: JSC?~5b.
A replay of the call will be available from Tuesday, December 15, 2009 at 10:00 a.m. Eastern Time through December 22, 2009 by dialing 800-642-1687 (domestic) or 706-645-9291 (international) and reference the pass code 45263070. In addition, a replay of the Webcast will be available at www.erhc.com.
ERHC Energy has interests in six of the nine Blocks in the offshore Nigeria-São Tomé & Príncipe Joint Development Zone (JDZ). The Company has additional interests in the Exclusive Economic Zone (EEZ) of the Democratic Republic of São Tomé & Príncipe.