ERHC Energy Inc (ERHE)

[Southern Man]

http://fr.africatime.com/sao_tome_et_principe/articles/sao-tome-et-principe-erhc-energy-maintient-secret-son-partenaire-de-mou-sur-le-bloc-11


Ecofin Agency) - ERHC Energy Inc., with assets in sub-Saharan Africa, has signed a Memorandum of Understanding with an international oil exploration company on the block 11 it holds 100% in the exclusive development zone (EEZ ) of São Tomé and Príncipe.

The Texas oil and gas released on December 16, the signature of the agreement on the terms which he agrees to give to this company, the right of first refusal to any farm-in on the block for a period of six months. The agreement obliges ERHC Energy to keep confidential the identity of the partner to the implementation of the farm-in, we learn.

Meanwhile, the US company will continue to operate block 11 where the program was announced for the first four years, includes a new treatment of existing data, the completion of the aero-magnetic survey and acquisition of 2D seismic in 2500 km.

Last July, it announced the conclusion of the final terms of a production sharing contract (PSC) in three stages, eight in total, on the same block 11.

Block 11, covering 8941 km2, is located in the west of the island of Sao Tome and adjacent to the territorial waters of Gabon.



- See more at: http://fr.africatime.com/sao_tome_et_principe/articles/sao-tome-et-principe-erhc-energy-maintient-secret-son-partenaire-de-mou-sur-le-bloc-11#sthash.S2aEqlK9.dpuf