ERHC Energy Inc. Updates Shareholders On Progress
HOUSTON, Aug. 13, 2013 (GLOBE NEWSWIRE) -- ERHC Energy Inc. (OTCBB:ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today updated shareholders on the Company's progress.
ERHC is pleased to present highlights of the Company's recent progress. Greater detail is available in the Company's quarterly 10-Q filing, which can be read at http://erhc.com/secfilings/ .São Tomé and Príncipe Exclusive Economic Zone (EEZ)
- ERHC has concluded negotiations with the National Petroleum Agency (ANP-STP) on the EEZ Block 4 and 11 Production Sharing Contracts (PSCs).
- Translations, final legal review and certain approvals will precede signature.
- Negotiations continue with an international operator interested in farming into the Block following a Letter of Intent entered into in May 2013.
- ERHC awarded a contract to Bell Geospace to acquire an airborne Full Tensor Gravity Gradiometry (FTG) survey of the Block.
- ERHC conducted community outreach with government and local leaders to precede of the Company's exploration program.
- ERHC has contracted ASAT (Archeologie et Socio-Antropologie au Tchad), an environmental consultancy with Chad expertise and experience, to conduct a comprehensive Environmental Impact Assessment (EIA) in accordance with the PSC.
- ERHC has applied to the Chadian Ministry of Energy to harmonize ERHC's acreage with current determinations of prospectivity.
- ERHC and other contracting parties continue negotiations with the Joint Development Authority on how to progress with JDZ Blocks 2, 3 and 4.
- ERHC is pursuing ongoing discussions with investment banks and brokers regarding potential new investments and financing facilities.
CONTACT: Dan Keeney, APR DPK Public Relations 832-467-2904 email@example.com
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