ERHC Energy Inc (ERHE)

[rmilman]

The Term Sheet sets out a 180-day period commencing May 1, 2017, for a definitive agreement between the parties that gives ERHC entry, for valuable consideration, into Starcrest’s current entitlements to production.

Starcrest has a significant stake in Elcrest Exploration and Production Company Limited, the holder of 45 per cent of Nigeria’s producing OML 40. Starcrest also holds directly OPL 291 and OPL 242 in Nigeria.

ERHC continues to bid, as part of several consortia with backing from financing partners, for producing interests in West Africa.

Newstar Oil and Gas Inc., a wholly owned subsidiary of ERHC, has also been set up to acquire producing assets domestically in the United States.


ERHC still owns the interests to several large land and water masses. To drill these a company such as Eland/Elcrest which has the capital to drill would have to share the proceeds. Starcrest and Elcrest are working cooperatively ATM and that will benefit ERHC. SO yes there is still life in ERHC