ERHC Energy Inc (ERHE)

[RUBY1100]

Since the Nigerian side wishes to swiftly conclude the round and move on, many believe the Addax bid will still win out
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Sources told THISDAY at the end of the close-door meeting that the formalization of the choice of Swiss firm, Addax Petroleum, as replacement to US independent oil company, Noble, as technical partner in bloc 04 of the JDZ was also concluded.
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JDA Approves ERHC Energy and Addax Consortium for Block 4
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31 October 2005, 4:58pm ET

HOUSTON--(BUSINESS WIRE)--Oct. 31, 2005--Houston-based ERHC Energy (OTCBB:ERHE) announced today the company has received approval from the Nigeria-Sao Tome & Principe Joint Development Authority for Swiss-based Addax Petroleum to replace Noble Energy in its Joint Development Zone Block 4 consortium.

The JDA approval states that Addax satisfies the JDA's technical and commercial requirement for the operatorship of JDZ Block 4, and requires the ERHC-Addax consortium designate Addax as the operator, as well as for the consortium to accept all commercial and technical terms of the original award of 35 percent equity interest.