ERHC Energy Inc (ERHE)

[RUBY1100]

**UPSTREAM** NOV 18 2005 JDZ

Chevron takes aim with drillbit
US supermajor Chevron aims to spud its debut well in deep-water Block-1 in the Nigeria-Sao Tome Joint Development Zone next month.
With committed signature bonus payments still an issue bedevilling the final equity breakdown of remaining JDZ blocks awarded under the just-concluded second round, all eyes are focused on this first well to test the potential of the Gulf of Guinea deep.

Earlier reports indicated caution on the part of the supermajor that drillship scarcity could postpone the probe until the second quarter of next year.

However, it is understood that a unit has now been sourced and the 60-day well is scheduled to start before Christmas.