ERHC Energy Inc (ERHE)

[markgovols]

***FROM PLATTS SOURCE***

Geneva-based Addax Petroleum has attracted buyout interest from Chinese energy companies and confirmed it will commence drilling in the Nigeria-Sao Tome and Principe Joint Development Zone, a senior source at the company said Wednesday.
Toronto and London-listed Addax, with a market value of $2.9 billion, has projects in Nigeria, Cameroon, Gabon and licenses in the Kurdistan region of Iraq where it is exploring the Taq Taq field.
"It is true that Addax will commence drilling in JDZ later in the year," the source said. "It is also true that Chinese investors are jostling to buy Addax."
He did not give further details except to say no deal has been finalized. China National Offshore Oil Corporation is among a list of other companies including India's ONGC rumored to have expressed interest in Addax.
Addax and its key partner Houston-based ERHC Energy in the JDZ hope to have the deepwater Pathfinder drillship on location at the end of the second quarter. Four wells are to be drilled commencing with the Kina prospect in
Block 4.