ERHC Energy Inc (ERHE): ****UPDATE**** Just had long conversa...

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markgovols

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Thursday, 04/06/2006 10:03:38 AM

Thursday, April 06, 2006 10:03:38 AM

****UPDATE****

Just had long conversation with JDA source.

1. Chevron met with JDA today. Chevron and JDA will issue a PR tomorrow or Monday on Block 1 (OBO-1) Driling. JDA is well aware of the rampant speculation on Block 1 findings that it is very substantial. Source said JDA is "all about precision" in dealing with this. They have to be very careful.

2. Source confirmed he was hearing of "Substantial oil in Block 2 JDZ" and that Sinopec is "making spirited efforts to get a rig for Block 2 as soon as possible." Additionally, source said, "Operators are trying to find short cuts to get rigs fast."

3. ERHC is still in blocks 5 & 6 and these blocks will be PSC's and Sig bonus paid soon. He mentioned ERHC had withdrawn but has since "rekindled interest."

4. Signature Bonuses for Blocks 3 & 4 are due April 14th. Sig Bonus for Blk 2 is due April 15th. All will be paid next week.

Lastly, I asked source if there was any additonal news. He said: All sorts of meetings are going on between consortiums about sharing of equity. Any equity sharing must be approved by JDA. It's a very active and exciting time for the JDA JDZ area.

As always call JDA yourself to verify. They are very willing to speak with interested parties.
Cheers.