ERHC Energy Chad Contracts Bridgeporth for Airborne Gravity/Magnetic Survey of BDS 2008 in Chad
30 May 2014 - 6:36AM
ERHC Energy Chad today announced the award of a contract for
acquisition, processing and interpretation of gravity/magnetic data
of BDS 2008 in Chad to Bridgeporth Ltd., a specialist geosciences
company. Under terms of the agreement, Bridgeporth will fly 4,720
line kilometers over BDS 2008 in southern Chad commencing in the
third quarter of the year. ERHC Energy Chad is a subsidiary of ERHC
Energy Inc. (OTCBB:ERHE), a publicly traded American company with
oil and gas assets in Sub-Saharan Africa.
ERHC has 100 percent of the interest in BDS 2008. The Block is
located on the northern edge of the Doba and Doseo basin, the site
of active exploration and development projects with discoveries
exceeding 1,290 MMBOE. Bridgeporth's survey will focus on two main
areas: north of Esso's Tega and Maku discoveries in the Doseo
basin; and east of and on trend with OPIC's Benoy-1 margin
discovery in the Doba basin.
"We were impressed with Bridgeporth's work in the early stages
of ERHC's oil and gas exploration work program in Kenya and we are
happy to bring them onboard for our program in Chad," said ERHC
President and CEO Peter Ntephe. "As we saw firsthand in Kenya, we
expect this gravity/magnetic data will enable the exploration team
in Chad identify the most prospective areas for acquisition of 2D
seismic data, which is the next step in the work program."
Earlier this spring, ERHC received the arrêté (decree) of the
President of Chad giving presidential seal of approval to the
Company's retention of oil exploration Block BDS 2008 and voluntary
relinquishment of the two other Blocks that were also contained in
the PSC. The receipt of the Presidential Order enables ERHC to
focus its exploration activities on Block BDS 2008 and revamp its
discussions with potential farm-in partners. Based on its current
understanding of available data, ERHC estimates the un-risked
resource potential in the two focus areas in BDS 2008 to be 250
million barrels of oil equivalent (MMBOE).
In addition to its oil and gas exploration interests in the
Republic of Chad, ERHC holds interests in the Republic of Kenya,
the Sao Tome and Principe Exclusive Economic Zone (EEZ) and the
Nigeria-Sao Tome and Principe 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.
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 stockholders'
meetings 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 Kenya, Chad, the JDZ
and the Exclusive Economic Zone 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
dan@dpkpr.com
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