ERHC Energy Inc (ERHE)

[oilman57]

From the 10-k:

"Interpretation carried out by WesternGeco has enabled the identification of 56 prospective structures within Blocks 1 to 9 in the JDZ, of which 17 were defined as prospects and 39 as leads. WesternGeco used reservoir parameters similar to those known from nearby fields in Nigeria and Equatorial Guinea. Combined recoverable reserves potential of the 17 prospects was estimated by WesternGeco to be 14.4 billion barrels of oil. The scope of the WesternGeco report was to interpret and map seismic data, highlight prospectivity and calculate volumetrics."

Record signature bonuses were offered in the bidding for the blocks in the Joint Development Zone.

In addition ERHE has significant rights in the Sao Tome EEZ which is a zone that is seperate from the Joint Development Zone.