US Oil Company ERHC Eyes Nigeria, Sao Tome Jackpot by Norval Scott Fri, Jan 21, 2005 16:42 GMT
LONDON - A little-known company with no history of producing crude could be on the brink of becoming a significant player in the West African oil game.
Houston-based Environmental Remediation Holding Corp. (ERHC) holds preferential rights in a maritime enclave jointly operated by Nigeria and Sao Tome & Principe, known as the Joint Development Zone. Now the tiny company is set to gain equity in five blocks when the JDZ's second licensing round is finalized, possibly later this month or in February.
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