ERHC Energy Inc. Board Accepts Resignation Of Director
HOUSTON, Jan. 7, 2013 (GLOBE NEWSWIRE) -- ERHC Energy Inc. (OTCBB:ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today announced the resignation of Leslie Blair from his position as non-executive director to concentrate on his position as CEO of the AIM-listed Eland Oil & Gas plc and to protect against potential conflicts of interest. The ERHC board accepted Blair's resignation and has begun the process of identifying a successor.
"I sincerely regret having to resign at this exciting time in ERHC's growth; however, it has become increasingly imperative that I do so to comply with various requirements in regard to my position as CEO of Eland Oil & Gas plc and to avoid potential conflicts of interest, particularly in the light of ERHC's business development plans," said Mr. Blair. "I re-affirm my ongoing support for ERHC's recently launched rights issue and I commit that I will participate personally, as an existing shareholder in ERHC.
"The growth of the Company in the past three years has been impressive and hard won and I commend my fellow Directors and the Company's management on the exceptional progress made in Chad, Kenya and in the Sao Tome & Principe EEZ."Mr. Blair has been on the ERHC Energy board of directors since 2010, a period during which ERHC has successfully implemented a growth and diversification strategy by adding onshore oil and gas exploration Blocks in the Republics of Kenya and Chad to its asset portfolio. "ERHC is grateful for Mr. Blair's significant contributions to ERHC's successes during the past 30 months and we wish him good luck in Eland and other endeavors," said ERHC President and CEO Peter Ntephe, who also serves on the Board of Directors. In addition to its oil and gas Blocks in Kenya and Chad, ERHC holds assets in the Nigeria - Sao Tome & Principe Joint Development Zone (JDZ) and in Sao Tome's Exclusive Economic Zone (EEZ). Additionally, ERHC continues to pursue other potential oil and gas acquisitions, where feasible.
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