ERHC Energy Inc (ERHE)

[Southern Man]

http://www.ft.com/cms/s/0/ecf9f45c-9f8f-11e2-968b-00144feabdc0.html?ftcamp=published_links%2Frss%2Fcompanies_oil-gas%2Ffeed%2F%2Fproduct#axzz2QIxyul43

“The key point is that private equity is out there and looking for opportunities such as ours.”


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The company, based in Addis Ababa, has already raised about $50m, largely from wealthy individuals to invest in acquiring blocks and seismic data in the country.It is aiming to raise another $100m by May to help fund a drilling programme of three exploration wells at blocks held near the Somaliland border on the Horn of Africa from later this year.