2 Year ERHC Anniversary is upon us ...
May 4, 2006 was D Day
2 years later - still Sealed - NO Indictments - ZIP
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ERHC Energy Update on Investigation Into Activities in Joint Development Zone
HOUSTON, June 29, 2006 - ERHC Energy Inc. (OTCBB: ERHE) continues to work with the U.S. Department of Justice in connection with the Department's investigation into questions surrounding the Company's activities in the Joint Development Zone (JDZ).
The JDZ rests approximately 200 kilometers off of the coastline of Nigeria and the island nation of Sao Tome & Principe, and is adjacent to areas where there have been several large petroleum discoveries.
Recently, the Department of Justice agreed to return to ERHC a complete copy set of all paper documents seized in the Government's May 4, 2006 search of the ERHC's Houston office. ERHC has already received a substantial portion of these business documents and expects to receive the remaining copies shortly.
The Company has retained the nationally recognized law firm, Akin Gump Strauss Hauer & Feld LLP, to assist it in connection with the Justice Department's investigation. Akin Gump also will assist the Company respond to a related U.S. Securities and Exchange Commission (SEC) subpoena issued on May 9, 2006. ERHC intends to comply fully with the SEC subpoena.
Akin Gump has filed suit in federal district court in Texas on behalf of ERHC. The lawsuit seeks to protect the Company's attorney-client privileged documents and to allow ERHC counsel to determine the factual basis for the Justice Department's search warrant affidavit, which is currently under seal.
ERHC continues to pursue its business plan and the opportunity to develop its rights in the JDZ.
"We are working to minimize potential distractions and focus on commercializing the Company's interests in the JDZ," said Chief Executive Officer Walter Brandhuber.
Earlier this year, the company announced that a subsidiary had entered into production sharing contracts in Blocks Two, Three and Four of the JDZ.
