ERHC Energy Inc (ERHE)

[Homeport]

STP News: PM Trovoada says STP will be ready for EZZ block auctions by year's end, but timing depends on what else happening in GoG.

Told Lusa agency in Lisbon interview: "By end of year we'll be ready in terms of data and documents...and then must choose most opportune moment. We'll have to see what other countries are doing, what licensing rounds are planned by Angola, Nigeria, in the GoG."

Says such extra-STP matters could oblige auctions be held only in 1Q/09.

Says EEZ seismic company will be at work in STP next week and "once this phase" completed, the EZZ must be presented to int'l oil community to promote bidding.

Says his govt excludes possibility of direct negotiations with oil companies, as was defended by preceeding Vera Cruz cabinet, and hopes to have a new team of ANP directors in place by end May.

Trovoada spoke to Lusa after he held meeting with Portuguese Galp oil company admin, his 2nd such meet since taking office in Feb.

Says he seeking to "identify real business opportunities" with Galp and Angola's Sonangol, not looking for "sentimental" Lusophone relationship.