ERHC Energy Inc (ERHE)

[sneak-attack]

Proven: Back in 99 Sam Bass claimed at Sao Tome's 2D makes the EEZ look like another Kuwait.


Sao Tome and Principe's Exclusive Economic Zone ("EEZ") borders the highly productive oil areas of Nigeria, Equatorial Guinea and Gabon. Recent aquatory (marine) discoveries in this area include Mobil's 1 billion barrel offshore oil field to the north of the EEZ border and Elf Aquataine's 1.1 billion barrel field off the coast of Gabon on the east EEZ border. Industry estimates the oil reserves in this area are equal to or greater than the reserves in Kuwait.

ERHC President and CEO, Sam Bass, Jr. stated: "With several billion barrel discoveries adjacent to our borders and oil seeps from outcrops on the islands (DRSTP), it is highly probable that our structures within the EEZ are loaded with hydrocarbons."

According to Jim Callender, Jr., ERHC's vice president and chief operating officer, "The current geological data that we have reviewed to date is extremely promising and that, coupled with our strategically located off-shore logistic center to be constructed in a politically stable climate provides a very attractive alternative for the major petroleum companies operating in the Gulf of Guinea."


Sneak