ERHC Energy Inc (ERHE)

[Southern Man]

Last July, Beijing invited Sa~o Tome´ to participate as an observer in the 4th Ministerial Conference of the Forum Macao. In early October, Sa~o Tome´’s National Oil Agency (ANP) signed a product-sharing contract (PSC) for Block 2 of its EEZ with the Hong Kong-registered private oil company Sinoangol. Sinoangol, established in 2010 by the Portugal-based Chinese businessman Zhan Yongqiao, was awarded the block after direct negotiations with the company that started in April 2013. Under the agreement, over a period of eight years Sinoangol will invest US$ 154 million in seismic studies, environmental studies and exploratory drillings.

http://www.eurasiareview.com/21022014-sa%CC%83o-tome-simultaneously-strengthens-relations-taipei-re-establishes-commercial-ties-beijing-analysis/