ERHC Energy Inc (ERHE)

[RUBY1100]

rufisque Greatly Appreciated !! of NOTE

1. When will drilling start in JDZ block 4?
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The Aban Abraham will be drilling for Addax approximately a year from now, in Q3FY09, up to 10 wells. Addax is doing the maximum to drill earlier and is actively looking for a rig of opportunity, ideally for Q3-Q4/FY08. They are willing and able to spend the USD 600.000 or more per day for an earlier drillship. First target: the Kina prospect in block 4.


3. Where is Addax on the block 4 Godsonic issue?
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Actually subject of arbitration in London. A friendly arbitration process, the relationship with ERHE is excellent. Addax will most probably end up with an additional 7.2% of block 4, ERHE with 1.8%.

7. Jean-Claude Gandurs plans for the future?
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Finish the actual 3 year program, increase the value of the company and sell the company for the highest amount possible (possibly in the order of USD 16 B). Jean-Claude Gandur started the business with USD 13 M, Addax is now worth USD 8 B and the programs underway (JDZ and Taq-Taq) should double the Company. Addax is looking for acquisitions.