ERHC Energy Inc (ERHE)

[manuel06]

Wall...this 2.3 bil US$/45% stake was only for Akpo field ..

Wednesday, January 11, 2006
Akpo Field: India Reacts on Sale to Chinese Investors

The Indian government has said it has no regret in taking the decision to stop its state-run Oil and Natural Gas Corporation (ONGC), to acquire 45 per cent shares of South Atlantic Petroleum in Akpo oil field, located in oil prospecting licence (OPL) 246. In what seems like another Chinese victory over India in the battle to secure strategic oil assets, China National Offshore Oil Company Limited (CNO OC), Monday secured the offshore field pledging to pay N2.3 billion in cash.