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