HOUSTON, TX, Jan. 08, 2018 (GLOBE NEWSWIRE) -- HOUSTON, TX, January 8, 2018 – ERHC Energy, Inc. (OTC:ERHE) (the “Company”) is excited to announce that the Company has begun to commit resources and operational strategy toward maximizing what management believes is a defining opportunity over coming quarters: to assume a leadership position in addressing the massive unmet future energy demands implied by the advent of the global blockchain and cryptocurrency revolution.
According to Digiconomist.net, a leading Bitcoin logistics analysis firm, recent research suggests that Bitcoin miners worldwide are using enough annual electricity to power about 3.47 million American homes for a year. And the costs associated with this binging consumption – currently at $1.9 billion and growing – are only expected to rise. And that’s just Bitcoin. Bitcoin is only one of thousands of crypto-assets, and there are also countless other applications of the blockchain framework beyond crypto-assets.
Analysts expect the blockchain framework to become a dominant theme integrated into the technological infrastructure underlying many mainstream societal processes, penetrating and eventually dominating industries as diverse as banking, IT infrastructure, and media.
Executives at the Company are gearing up with the sense that, while this transformation implies many interesting problems and opportunities, the one thing no one can argue with is the massive boost it implies to those who can effectively position themselves as core leaders in supplying the energy necessary to fuel the process.
Management believes the Company is extremely well-positioned to take full advantage of this opportunity over coming quarters and looks forward to supplying additional details shortly.
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.