ERHC Energy Inc (ERHE)

[RUBY1100]

Dow Jones Chevron, Exxon Eye Big African Oil Discovery

LONDON (Dow Jones)--U.S.-based Chevron (CVX) and Exxon Mobil (XOM) have made an African oil discovery that could hold more than a billion barrels worth of oil and gas, the Business newspaper reports.

The find promises to be one of the largest this year off the shore of the West African State of Sao Tome and Principe.

The Business quotes a source who has seen the drilling results completed on March 15. "It is an encouraging result. Everyone is pleased," the newspaper
reports.

The source added that Chevron and Exxon will meet Tuesday to plan their next moves.

Chevron and Exxon weren't immediately available for comment.

Newspaper Web site: http://www.thebusinessonline.com

-London Bureau, Dow Jones Newswires; [phone]


(END) Dow Jones Newswires

03-26-06 0632ET

Copyright (c) 2006 Dow Jones & Company, Inc.

06:32 032606