ERHC Energy Inc (ERHE)

[Opus X]

Just a refresher of what Galp owns in the EEZ.

https://www.galp.com/corp/en/about-us/what-we-do/upstream/e-p-in-sao-tome-and-principe

Upstream in São Tomé and Príncipe
Galp is present in São Tomé and Príncipe in Blocks 6, 11 and 12.
Present in São Tomé and Príncipe since 2015, Galp acquired a 45% stake in Block 6, where it is the operator. In 2016, Galp expanded its presence with the acquisition of a 20% stake in blocks 5, 11 and 12. During 2019, Galp has decided to withdrawn from block 5.

In 2017, a 3D seismic acquisition campaign was initiated, covering an area of 16 thousand km2 along all blocks.

Following the geological and geophysical studies carried out on block 6, Galp and the other partners are finalising the preparation of the first exploratory well on the block. The well, known as Jaca, is expected to be spud in late 2021 / early 2022.

Galp assumed the role of operator for block 12 in 2020, replacing the previous operator, Kosmos Energy. Kosmos' stake was distributed in proportion to the stakes of the other members of the consortium.



Block 6

Consortium: Galp (Operator, 45%) Shell (45%) Agência Nacional do Petróleo (ANP) (10%)
Area: 5,024 km²
Type: Ultra-deep waters
Water depth: 2,300 – 2,800 metres
The block is located in the country’s Exclusive Economic Zone, in an underexplored but high potential area, as it is close to provinces with a proven oil system.