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Sunday, 11/16/2008 3:33:02 AM

Sunday, November 16, 2008 3:33:02 AM

Post# of 362297
Our current reserve estimates that we’ve previously disclosed are based on the Western Geco 2-D seismic from nearly 10 years ago. We have always ONLY released the P50 number – most recently in news announcements in June of this year (http://www.erhc.com/en/rel/?116). I think everyone who follows the JDZ is aware that 3-D was shot a while back, which is what the estimates that Addax has released are based on. The new reserves report is based on that 3-D seismic as well, using the latest technologies to provide the greatest possible clarity (short of drilling) about the prospectivity of the Blocks.



The company has a policy that prohibits commenting on share price fluctuation. It is worth emphasizing that ERHC has a strong cash position, great relationships with powerful and experienced technical partners who have a drillship under contract for the second half of 2009, and leadership that offers technical (Mr. Ledbetter), financial (Mr. Bovell) and geographic (Mr. Ntephe) expertise that is and will be extremely valuable. We understand and share the frustration that the drilling schedule has slipped, but we are staying focused on implementation of the company’s growth strategy and on the fact that the operators expect to take possession of the Aban Abraham in the second half of 2009. And, while we aren’t holding our breath, our technical partners have kept the door open for the possibility of a rig of opportunity. I think it is appropriate to be skeptical about an interim rig since the situation is so dynamic and subject to change given the macro economic environment we are experiencing.



Thanks for your interest in ERHC!



Sincerely,



Dan Keeney, APR

DPK Public Relations



214-432-7556 (DFW Area)

832-467-2904 (Houston)

www.dpkpr.com

Twitter: dpkpr