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Sunday, 06/03/2012 1:56:32 PM

Sunday, June 03, 2012 1:56:32 PM

Post# of 361982
Has SNP quietly bailed on 2, 3 and 4 or does Upstream have it confused? Not clear to me:

Issue of 18 May 12 on bottom right of page 22 says:

EHRC seeks JDZ partners

HOUSTON-based ERHC Energy is again looking for suitors to partner on deep-water blocks in the Joint Development Zone managed between Nigeria and Sao Tome & Principe following expiry of the first exploration phase of JDZ blocks 2, 3 and 4 where it enjoys primary title.

ERHC chief executive Peter Ntephe this week told share­
holders that the company in­tended to remain an active stakeholder in all three licences, regardless of extensions or third-party commitments to further exploration or even a complete change of operator­ship.

Talks on new production sharing contracts were pro­ceeding well, Ntephe said. ERHC has a 22% stake in JDZ Block 2, 10% in Block 3, 19.5% in Block 4, 15.0% in blocks 5 and 6 and 20% in block 9.

ERHC also has a 100% working interest in blocks 4 to 11in
Sao Tome's Exclusive Economic Zone and has made "significant progress on most of the key terms" in negotiations for PSCs which should be concluded soon.

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