ERHC Energy Inc (ERHE)

[daylatedolarshort]

Kownski-
23.4 There shall be no Royalties payable for the production of Natural Gas in the Joint
Development Zone.

23.5 The applicable Royalties payable in the Joint Development Zone for Crude Oil and
Casinghead Petroleum Spirit shall be according to the following sliding scale table:
P<20 R= 0
20 <=P<=70 R= 5%{1-[(70-P)/(70-20)]}
P>70 R= 5
where: P=production in thousands of barrels/day
R=royalty rate

http://www.nigeriasaotomejda.com/PDFs/Petroleum%20Regulations.pdf
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5.1 Tax Rate
A uniform Tax rate of 50% shall be charged throughout the JDZ.

http://www.nigeriasaotomejda.com/PDFs/Updated%20Guidelines%202004.pdf