![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Friday, May 20, 2005 12:36:09 AM
Sao Tome set to sign JDZ awards
(Copyright © 2005 Energy Intelligence Group, Inc.)
Friday, May 20, 2005
Display Printer Friendly Page
After long, bitter and sometimes farcical battles, Nigeria and Sao Tome and Principe are poised to announce awards for up to five blocks in their joint development zone (JDZ), Sao Tome sources say.
Nigeria's President Olusegun Obasanjo was due to go to Sao Tome on May 20 to sign authorizations prepared by the JDZ's administrator. These are expected to give Nigerian-owned, US-listed ERHC chunky stakes in the most popular blocks, beefed up through alliances with US companies. On Block 2, ERHC is expected to get a 35% joint stake with US Devon and Pioneer, and a separate 30% stake of its own, after exercising preferential rights acquired through a controversial deal negotiated with Sao Tome in 2003, sources say. On Block 4, ERHC will share 35% with US Noble Energy, while exercising rights to 25% under the 2003 agreement (EC May7'03,p9).
http://www.energyintel.com/DocumentDetail.asp?document_id=148632
A wise man never plays leap-frog with a unicorn.
Recent ERHE News
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/06/2024 07:31:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/08/2023 09:06:42 PM
Alliance Creative Group (ACGX) Releases Q2 2024 Financial and Disclosure Report with an increase of over $130,000 in Net Income from Q2 2023 to Q2 2024 • ACGX • Aug 14, 2024 8:30 AM
Avant Technologies Unveils AI-Powered Healthcare Infrastructure to Deliver Intelligent Healthcare Solutions • AVAI • Aug 14, 2024 8:00 AM
SANUWAVE Announces Record Quarterly Revenues: Q2 FY2024 Financial Results • SNWV • Aug 13, 2024 7:11 AM
Kona Gold Beverages, Inc. Nears Completion of Reverse Merger with New Candidate • KGKG • Aug 12, 2024 10:00 AM
Maybacks Global Entertainment and DigiTrax Entertainment Sign Agreement to Broadcast "Karaoke Cloud" on iDreamCTV • AHRO • Aug 12, 2024 8:45 AM
HealthLynked Partners with RxSpark to Enhance Medication Access and Management for Patients • HLYK • Aug 12, 2024 8:00 AM