ERHC Energy Inc (ERHE)

[RUBY1100]

OF NOTE : Completion of the latest JDA round paves the way for Sao Tome to belatedly start licensing acreage in its own Exclusive Economic Zone (EEZ).

Drilling on blocks 2,3 and 4 could get under way later this year.

BL 1 so-called Hercules structure could contain more than 1 billion barrels of oil

Among those set to benefit from the Block 1 find are partners Addax and Houston-based ERHC Energy, which together hold stakes in blocks 2 and 3 and operate Block 4.

Potential Lawsuits in STP EEZ coming