ERHC Energy Inc. Technical Partner to Take Possession of Drilling Rig This Week
(Market Wire 08/19 15:05:54)
HOUSTON, TX -- (Marketwire) -- 08/19/09 -- ERHC Energy Inc. (OTCBB: ERHE), a publicly
traded American company with oil and gas assets in the highly prospective
Gulf of Guinea off the coast of West Africa, today announced that its
technical partner, Sinopec Corp., will take possession of the SEDCO 702
semi-submersible drilling rig this week. The rig will be used to drill the
Bomu-1 Prospect in Block 2 of the Joint Development Zone (JDZ) in which
Sinopec is the operator and ERHC has a 22 percent interest.
"The Bomu-1 prospect is one of several prospects in JDZ Block 2 identified
from 3-D seismic analysis and interpretation," said Peter Ntephe, chief
operating officer with ERHC. "The work during the next 45 days or so will
focus on a number of potential exploration targets at different depths and
will considerably aid in understanding the geology and hydrocarbon
potential of this and other prospects in the Block."
Sinopec has announced it will spud the Bomu-1 well before the end of
August. The water depth is approximately 5,400 feet. Sinopec will drill to
a total depth of approximately 11,600 feet subsea.
ERHC Energy has interests in six of the nine Blocks in the offshore
Nigeria-São Tomé and Príncipe Joint Development Zone. The Company has
additional interests in the territorial waters of Democratic Republic of
São Tomé & Príncipe known as the Exclusive Economic Zone (EEZ).
About ERHC Energy
ERHC Energy Inc. is a Houston-based independent oil and gas company focused
on growth through high impact exploration in the highly prospective Gulf of
Guinea and the development of undeveloped and marginal oil and gas fields.
ERHC is committed to creating and delivering significant value for its
shareholders, investors and employees, and to sustainable and profitable
growth through risk balanced smart exploration, cost efficient development
and high margin production. For more information, visit www.erhc.com.
Cautionary Statement
This press release contains statements concerning ERHC Energy Inc.'s future
operating milestones, future drilling operations, the planned exploration
and appraisal program, future prospects, future investment opportunities
and financing plans, future shareholders' meetings, response to the Senate
Subcommittee investigation, developments in the SEC investigation of the
Company and related proceedings, as well as other matters that are not
historical facts or information. Such statements are inherently subject to
a variety of risks, assumptions and uncertainties that could cause actual
results to differ materially from those anticipated, projected, expressed
or implied. A discussion of the risk factors that could impact these areas
and the Company's overall business and financial performance can be found
in the Company's reports and other filings with the Securities and Exchange
Commission. These factors include, among others, those relating to the
Company's ability to exploit its commercial interests in the JDZ and the
exclusive territorial waters of São Tomé and Príncipe, general economic and
business conditions, changes in foreign and domestic oil and gas
exploration and production activity, competition, changes in foreign,
political, social and economic conditions, regulatory initiatives and
compliance with governmental regulations and various other matters, many of
which are beyond the Company's control. Given these concerns, investors and
analysts should not place undue reliance on these statements. Each of the
above statements speaks only as of the date of this press release. The
Company expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statement to
reflect any change in the Company's expectations with regard thereto or any
change in events, conditions or circumstances on which any of the above
statements is based.
Add to Digg Bookmark with del.icio.us Add to Newsvine
Contact:
Dan Keeney, APR
DPK Public Relations
832-467-2904
Email Contact
S.IW ERHE EU.IW EUEQ.IW EUOG.IW EUPI.IW EUUT.IW FS.IW FSCI.IW FSIS.IW FSVC.IW
AI
