Contact Information: Contact: Dan Keeney, APR DPK Public Relations 832-467-2904
ERHC Energy Inc. Seeks Clarification From Joint Ministerial Council of the Nigeria-Sao Tome and Principe Joint Development Zone
| Source: ERHC
HOUSTON, TX--(Marketwire - September 8, 2008) - ERHC Energy Inc. (OTCBB : ERHE ), a publicly
traded American company with oil and gas assets in the highly prospective
Gulf of Guinea off the coast of central West Africa, is seeking the
reaffirmation of government officials regarding the Company's rights in
Joint Development Zone (JDZ) Blocks 5 and 6. In May 2005, the Nigeria-São
Tomé and Príncipe Joint Development Authority (JDA) confirmed ERHC Energy's
15 percent interest in the Blocks.
ERHC is committed to exploiting its rights and meeting its contractual
obligations in the JDZ. The Company wants to eliminate uncertainty stemming
from recent press reports in which members of the JMC were quoted. The
reports raised questions about the status of ERHC rights in JDZ Blocks 5
and 6.
Letters sent by ERHC Energy Chief Operating Officer Peter Ntephe to the
Joint Ministerial Council (JMC) of the Nigeria-São Tomé and Príncipe JDZ
and to the JDA, which manages the JDZ, assert the company's intent and
commitment to exploit its rights in JDZ Blocks 5 and 6.
"We have the utmost respect and regard for the JMC and JDA, and we hope
that media reports questioning our rights in JDZ Blocks 5 and 6 are
erroneous, in which case we respectfully apologize for raising the issue,"
said Mr. Ntephe.
The letters also declare that if ERHC's rights in JDZ Blocks 5 and 6 are
tampered with or compromised, the Company will take all necessary legal
steps to protect its corporate interest.
ERHC Energy has interests in six of the nine Blocks in the offshore JDZ
between Nigeria and the Democratic Republic of São Tomé & Príncipe. The
Company has additional interests in the territorial waters of Democratic
Republic of São Tomé & Príncipe known as the Exclusive Economic Zone (EEZ).
About ERHC Energy
ERHC Energy Inc. is a Houston-based independent oil and gas company focused
on growth through high impact exploration in the highly prospective Gulf of
Guinea and the development of undeveloped and marginal oil and gas fields.
ERHC is committed to creating and delivering significant value for its
shareholders, 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 shareholders' meetings, response to the Senate
Subcommittee investigation, developments in the SEC investigation of the
Company and related proceedings, 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 the JDZ and the
exclusive territorial waters 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.