ERHC Energy Inc (ERHE)

[RUBY1100]

Equator offer By Upstream staff



London-listed Equator Exploration, headed by Wade Cherwayko, has received an unofficial takeover approach.
"The board is in the process of considering the merits of the offer and will give an update to shareholders in due course", the company said.

Industry sources have suggested the buyer could be a Middle Eastern player while other reports said BowLeven, a fellow London-listed oil company could be keen.

Equator operates assets in Nigeria including the Bilabri oil project and the Ownanare gas discovery and also has rights to several blocks in Sao Tome.