ERHC Energy Inc. Appoints Vice President Technical
HOUSTON, December 19, 2006 - ERHC Energy Inc. (OTCBB: ERHE), an independent oil and gas company with assets in the Gulf of Guinea, has announced the appointment of James Ledbetter to the position of Vice President Technical. Mr. Ledbetter begins his duties with ERHC Energy immediately.
Mr. Ledbetter brings more than 25 years experience in exploration and production projects to ERHC Energy. He has an international background, having worked on projects in more than 20 countries, including work in Australia, Europe, the Middle East, North and South America and the Pacific Rim.
In addition to managing the Company''s relationships with consortium partners and various regulatory agencies in this new position, it is expected Mr. Ledbetter will play a key role in helping ERHC Energy expand its asset base and diversify beyond the Joint Development Zone.
"We are very pleased to have James join us and anticipate he will be pivotal in implementing a focused acquisition strategy that targets a credible portfolio of low- to medium-risk properties," said Sir Emeka Offor, chairman of ERHC Energy''s Board of Directors. "We sought a person who could help to identify, acquire and manage prospects in which we discern a competitive advantage, and I believe James has the right background for the job. The Board''s goal is to build a significant revenue base that will have a positive impact on ERHC''s profitability for the benefit of its shareholders."
Most recently, Mr. Ledbetter served as a technology coordinator for Saudi Aramco''s Research & Technology Division, where he coordinated more than 200 technology initiatives. Prior to that, he developed and evaluated the worldwide exploration portfolio for Occidental Oil & Gas Corporation as its chief of strategic planning & economics, worldwide exploration.
Prior thereto, Mr. Ledbetter worked for International Economic & Engineering Consultants, Inc., Kuwait Foreign Petroleum Exploration Company, Capitol Steel & Iron Company, Kerr-McGee Corporation and Cities Service Company.
"As operations are initiated in the Joint Development Zone (JDZ), the depth of experience and international perspective that James offers will be very valuable for ERHC Energy," said Nicolae Luca, acting chief executive officer for ERHC Energy. "We are very pleased to welcome James onto our management team and look forward to his contribution to the exploration and exploitation of ERHC Energy''s rights."
ERHC Energy holds exploration rights in six JDZ blocks, consisting of a 22 percent participating interest in JDZ Block 2, a 10 percent participating interest in JDZ Block 3, a 17.7 percent participating interest in JDZ Block 4, and a 15 percent working interest in JDZ Blocks 5, 6 and 9. Additionally, subject to certain restrictions, ERHC holds the right to receive up to two blocks of ERHC''s choice in Sao Tome''s Exclusive Economic Zone (EEZ) and holds the option to acquire up to 15 percent paid working interest in up to two additional blocks of ERHC''s choice in the EEZ.
Mr. Ledbetter earned a Bachelor''s Degree in Petroleum Engineering from the University of Tulsa.
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; sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production.
Safe Harbor Statement
This press release contains "forward-looking statements," including statements about ERHC Energy Inc.''s future operating milestones, financing plans, as well as other matters that are not historical facts or information. These forward-looking statements are based on management''s current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including those relating to the Company''s ability to exploit its commercial interests in the JDZ and the exclusive territorial waters of Sao Tome and Principe, that may cause the Company''s actual results to be materially different from any future results expressed or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise, nor is there any assurance that the contemplated financing will be effected, under the terms set forth herein or any other terms.