This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ERHC Energy Inc.: Kenya Block 11A 2D Seismic Survey Completed

Stocks in this article: ERHE

HOUSTON, Aug. 6, 2014 (GLOBE NEWSWIRE) -- ERHC Energy Inc. (OTCBB:ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today announced the successful completion of a major 2D seismic acquisition program of Block 11A in the Republic of Kenya. BGP acquired seismic data over approximately 1,000 line kilometers on behalf of ERHC and its operating partner, CEPSA Kenya Limited (a wholly owned affiliate of Compañía Española de Petróleos, S.A.U. (CEPSA)), completing the work program requirements for the initial two-year exploration period under terms of the Block 11A Production Sharing Contract.

The seismic survey, paired with the structural mapping of prospective basins from a Full Tensor Gravity Gradiometry (FTG) survey completed last winter, will help to identify potential drilling targets in Block 11A.

"Interpretation of the seismic data is not yet complete, but we can say we are encouraged," said Dr. Peter Thuo, General Manager of ERHC Kenya Ltd.

ERHC holds a 35 percent interest in Block 11A after farming out a 55 percent stake to CEPSA. The Block is situated in northwest Kenya, northwest of the significant Ekales-1, Agete-1, Etuko-1, Ngamia-1 and Twiga South-1 oil discoveries.

In addition to Kenya Block 11A, ERHC's oil and gas exploration interests extend across the African continent, including the São Tomé and Príncipe Exclusive Economic Zone (EEZ), the Republic of Chad and the Nigeria-São Tomé and Príncipe Joint Development Zone (JDZ).

About ERHC Energy

ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in Africa and the development of undeveloped and marginal oil and gas fields. ERHC is committed to creating and delivering significant value for its stockholders, 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.

About CEPSA

CEPSA is an energy group, 100% owned by International Investment Petroleum Company (IPIC), which employs more than 10,000 professionals working at all stages in the hydrocarbon value chain: exploration and production of oil and gas, refining, transportation and marketing of petroleum and natural gas derivatives, biofuels, co-generation and marketing of electricity. CEPSA has developed a significant petrochemicals department that is highly integrated with its petroleum refining business, where it manufactures and sells raw materials for the production of high added-value products that are used primarily for the processing of new generation plastics and biodegradable detergents. It has a major presence in Spain and, thanks to the gradual internationalization of its activities, also operates in Algeria, Brazil, Canada, Colombia, Kenya, Liberia, Malaysia, Panama, Peru, Portugal, Suriname and Thailand, selling its products throughout the world.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs