HOUSTON, TX -- 11/09/09 --
ERHC Energy Inc. (OTCBB: ERHE), a publicly
traded American company with oil and gas assets in the highly prospective
Gulf of Guinea off the coast of West Africa, today announced the
commencement of exploratory drilling at the Malanza 1X well in Joint
Development Zone (JDZ) Block 4. It is the next phase in the comprehensive
drilling campaign that began in August.
Addax Petroleum, ERHC's technical partner and the operator of JDZ Blocks 3
and 4, is using Transocean's Deepwater Pathfinder, a fifth generation
dynamically positioned deepwater drilling rig, in this campaign. Drilling
of the Malanza 1X well is estimated to take approximately five weeks,
although the actual timing is dependent on many factors, such as drilling
penetration rate, fluids encountered, borehole stability and equipment
maintenance, among others.
The Malanza 1X is the fourth well drilled during the current campaign,
which encompasses JDZ Blocks 2, 3 and 4. It is the second well drilled in
JDZ Block 4, in which ERHC has a 19.5 percent interest.
"We are thrilled that the drilling campaign continues to progress on
schedule and we look forward to the release of comprehensive drilling
results when the operators complete their analyses," said Peter Ntephe,
chief operating officer with ERHC.
Last week, Addax finished drilling a well at the Lemba 1X prospect in JDZ
Block 3 in which ERHC has a 10 percent interest. A comprehensive analysis
that incorporates the drilling results into relevant geologic and fluid
models will now be carried out. The information from these wells is helping
the exploration team understand the geology and hydrocarbon potential of
the various prospects being drilled and provides valuable insight into the
prospectivity of the entire area.
ERHC Energy has interests in six of the nine Blocks in the offshore JDZ.
The Company has additional interests in the territorial waters of
Democratic Republic of São Tomé & Príncipe known as the Exclusive Economic
Zone (EEZ).
About ERHC Energy
ERHC Energy Inc. is a Houston-based independent oil and gas company focused
on growth through high impact exploration in the highly prospective Gulf of
Guinea and the development of undeveloped and marginal oil and gas fields.
ERHC is committed to creating and delivering significant value for its
shareholders, investors and employees, and to sustainable and profitable
growth through risk balanced smart exploration, cost efficient development
and high margin production. For more information, visit www.erhc.com.
Cautionary Statement
This press release contains statements concerning ERHC Energy Inc.'s future
operating milestones, future drilling operations, the planned exploration
and appraisal program, future prospects, future investment opportunities
and financing plans, future shareholders' meetings, response to the Senate
Subcommittee investigation, developments in the SEC investigation of the
Company and related proceedings, as well as other matters that are not
historical facts or information. Such statements are inherently subject to
a variety of risks, assumptions and uncertainties that could cause actual
results to differ materially from those anticipated, projected, expressed
or implied. A discussion of the risk factors that could impact these areas
and the Company's overall business and financial performance can be found
in the Company's reports and other filings with the Securities and Exchange
Commission. These factors include, among others, those relating to the
Company's ability to exploit its commercial interests in the JDZ and the
exclusive territorial waters of São Tomé and Príncipe, general economic and
business conditions, changes in foreign and domestic oil and gas
exploration and production activity, competition, changes in foreign,
political, social and economic conditions, regulatory initiatives and
compliance with governmental regulations and various other matters, many of
which are beyond the Company's control. Given these concerns, investors and
analysts should not place undue reliance on these statements. Each of the
above statements speaks only as of the date of this press release. The
Company expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statement to
reflect any change in the Company's expectations with regard thereto or any
change in events, conditions or circumstances on which any of the above
statements is based.
Contact:
Dan Keeney, APR
DPK Public Relations
832-467-2904
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