ERHC Energy Inc (ERHE)

[extractor8]

From the Centurion introductory note related to Mr. Said S. Arrata's (Chairman & Chief Executive Officer) planned presentation in Geneva on October 9, 2006:


NIGERIA SAO TOME AND PRINCIPE JOINT DEVELOPMENT: - 10% owned: The Nigeria Sao Tome and Principe joint development zone is an area of overlapping boundary claims in the Gulf of Guinea, Africa, that is jointly developed and administered by Nigeria and Sao Tome and Principe. Centurion Energy has been awarded a 10% interest in Block 4. The company will hold a minimum of 75% of the consortium’s award, equating to a minimum 7.5% equity interest in Block 4 which is an 857 square kilometres offshore block. Block 4 is an extension of the prolific Nigeria deepwater play where a number of world-class oil discoveries have been identified and mapped. The consortium believes there are several large structures capable of containing giant size oil fields in the range of 2 to 3 billion barrels. Subject to rig availability the operator Addax Petroleum (38.3%) plans to drill the first well in the first half of 2007, on one of the several large prospects interpreted and mapped on the 3-D seismic. In August 2006, Centurion Energy acquired an additional 2% working interest in Block 4. This will increase the interest to 9.5%.

GLTYA