ERHC Energy Inc (ERHE)

[moediggity]

More confirmation that news should be out this week!

http://www.oilvoice.com/n/Equator_Exploration_Provides_Update_on_West_Africa_Operations/42d0252bf.aspx

Equator Exploration Provides Update on West Africa Operations
06 March 2010


Equator Exploration Limited provides the following updates on its operational activities:

Exclusive Economic Zone ('EEZ') of São Tomé and Príncipe ('STP')
Equator was invited by the government of STP, prior to the recently announced EEZ Licensing Round, to make its first choice of two blocks in the EEZ as per the Exploration and Production Option Agreement Equator has with the government. Following Equator exercising its option, Equator received from the government of STP a letter of allocation of the rights to two blocks in the EEZ. The government informed Equator that it will soon be able to begin negotiation of Production Sharing Contracts.

OPL 323 / OPL 321
The award of OPL 323 and OPL 321 to the Korean National Oil Corporation ('KNOC'), the operator, was voided by the Federal Government of Nigeria in January 2009. In August 2009, judgement was given in favour of KNOC in a lawsuit that they had brought against the government parties in the Federal High Court in Abuja. Although the government has appealed the judgement, we believe that the government and KNOC are in talks to resolve the situation. We await news of a resolution.

JDZ Bomu-1 Well
Sinopec, the operator, is completing the technical evaluation of the Bomu-1 discovery. In mid-March, the Company and the other participants are required to commit to a second well or to drop the block.