ERHC Energy Inc. Awards Contract for 2D Seismic Survey in Kenya Block 11A
BGP to commence seismic acquisition in spring
HOUSTON, January 13, 2014 – ERHC Energy Inc. (OTCBB: ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today announced that its wholly owned subsidiary, ERHC Energy Kenya Limited, has awarded BGP Kenya Limited a contract to conduct a 2D seismic survey of Block 11A in northwestern Kenya. ERHC intends the seismic survey to commence in early spring.
BGP, one of the world’s leading geophysical service companies, was chosen from a shortlist of several companies that met the strict criteria for conducting a 2D seismic survey of at least 1,000 line kilometers in the Block in compliance with the Company’s work program. BGP has completed similar surveys in numerous Blocks throughout Kenya.
Seismic surveys are used to identify drilling targets. ERHC’s 2D seismic survey in Block 11A will be premised on structural mapping of prospective basins enabled by ERHC’s recently completed FTG survey of the Block. The FTG survey covered 14,943.8 line kilometers of the Block.
Block 11A is located to the northwest of the Lokichar Basin where the significant Ekales-1, Ngamia-1 and Twiga South-1 oil discoveries were drilled. A farm-out agreement with a renowned integrated oil and gas company, which includes a carry and other consideration, is pending final regulatory approval.
In addition to Kenya Block 11A, ERHC’s oil and gas exploration interests extend across the African continent, including the Republic of Chad, the São Tomé and Príncipe Exclusive Economic Zone (EEZ) and the Nigeria- São Tomé and Príncipe Joint Development Zone (JDZ).
Those with questions are encouraged to reference the Company’s SEC filings, which are available at http://erhc.com/secfilings/ or contact Daniel Keeney, ERHC’s investor relations representative, at firstname.lastname@example.org.
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.
# # #