ERHC Energy Inc. Retains Deloitte Corporate Finance LLC
Joint Ventures, Alliances, Sales and Divestitures under Consideration
HOUSTON, December 9, 2014 – ERHC Energy Inc. (OTCMKTS:ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today announced it has retained the services of Deloitte Corporate Finance LLC (DCF) to advise on the Company's oil assets in the Republics of Chad and Kenya.
The drop in global oil prices has prompted consolidation among oil exploration companies, and DCF will advise ERHC on matters related to possible joint ventures, alliances sales and/or divestitures on the Chad and Kenya licenses. ERHC currently holds a 100 percent interest in Block BDS-2008 in Southern Chad and a carried 35 percent interest in Block 11A in Northwestern Kenya.
"These are challenging times for all oil exploration companies and we are leveraging DCF's depth of skills and experience to support us in making decisions based on information that is constantly evolving," said ERHC President and CEO Dr. Peter Ntephe. "We anticipate DCF's involvement will be valuable as we pursue strategic options through access to their global network of corporate finance professionals around the world."
Beyond its assets in Chad and Kenya, ERHC also is seeking new strategic investment into the company itself.
"The current valuation of ERHC presents an exceptional opportunity for equity investors to gain access to ERHC's rich portfolio of licenses," Ntephe said.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC (DCF) provides strategic advisory services and M&A advice that help corporate, entrepreneurial and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. DCF, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
About ERHC Energy
