CAPE TOWN, South Africa, Oct. 9, 2013 (GLOBE NEWSWIRE) -- Peter Ntephe, President and CEO of ERHC Energy Inc. (OTCBB:ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today presented, "Exploration: Prospects and Challenges for a Small Independent," at the Africa Oil & Gas Summit 2013. Mr. Ntephe was a featured presenter of the Summit's West Coast Africa Oil & Gas track.
Mr. Ntephe's presentation, which can be viewed and downloaded at http://erhc.com/presentations/ , examined the Company's pure exploration model, which builds value through asset prospectivity development.
"As ERHC has experienced firsthand, this model is high risk as it usually involves exploration in frontier areas, but it can lead to very high reward as assets grow in value during the exploration process," said Ntephe.Mr. Ntephe described ERHC's experiences in the Nigeria – Sao Tomé and Principe Joint Development Zone (JDZ), which saw the value of ERHC's exploration Blocks climb in advance of its 2009 drilling campaign, but drop after exploration found no oil. "We faced a big decision. We could sell at significantly diminished value or start again. We chose to do what this Company does best: identify and secure prospective exploration assets – this time in Kenya and Chad – and set about building value again through focused exploration," said Ntephe. ERHC's oil and gas exploration interests extend across the African continent, including the Republic of Kenya, the Republic of Chad, the Sao Tomé and Principe Exclusive Economic Zone (EEZ) and the JDZ. He told the gathering that ERHC's previously announced negotiations with an integrated international oil and gas company to farm-out part of the Company's interest in Kenya Block 11A in northwestern Kenya are going well. Preparations also continue for Bell Geospace to acquire an airborne Full Tensor Gravity Gradiometry (FTG) survey of Block 11A. In Chad, in accordance with the PSC, work on a comprehensive Environmental Impact Assessment (EIA) is underway.
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