ERHC Energy Inc (ERHE)

[balance_builder]

Interesting new insight on what happened to our US partnerships by pointing out that SNP and Addax wouldn't be impacted by US anti corruption legislation:

"ERHC had been granted the rights to take between 15% and 30%
interests in certain of the JDZ blocks free of signature bonus. The company had secured partnerships with two leading US independents, Pioneer and Noble, which were to operate respectively in Block 2 and Block 4. In December there were reports in the Wall Street Journal that the government of São Tomé had requested for ERHC to be investigated for breach of US anti-corruption laws. First Noble and more recently Devon Energy and Pioneer withdrew their applications and have been
replaced respectively by Sinopec and Swiss-based Addax Petroleum, both of which are not impacted by US anti-corruption legislation."