ERHC Energy Inc (ERHE)

[jdubs]

Nice find Chet...

Operations: Sao Tome/Nigeria JDZ
Awarded 10% (7.5% net) in Block 4 of Sao Tome / Nigeria JDZ
$US 90 million gross signature bonus
212,000 acres (16,000 net)
World class exploration acreage
Several elephant size structures mapped on 3D seismic
Potential 2.5 - 3.5 billion barrels
3 exploration phases:
- phase 1 : 4 years;
- phase 2 : 2 years;
- phase 3 : 2 years.
The Operator plans to drill an exploratory well first half 2007.