ERHC Energy Inc. Technical Partner Spuds Second Well in JDZ Block 4
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HOUSTON, TX, Nov 09 (MARKET WIRE) --
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 West Africa, today announced the commencement of exploratory drilling
at the Malanza 1X well in Joint Development Zone (JDZ) Block 4. It is the
next phase in the comprehensive drilling campaign that began in August.
Addax Petroleum, ERHC's technical partner and the operator of JDZ Blocks 3
and 4, is using Transocean's Deepwater Pathfinder, a fifth generation
dynamically positioned deepwater drilling rig, in this campaign. Drilling
of the Malanza 1X well is estimated to take approximately five weeks,
although the actual timing is dependent on many factors, such as drilling
penetration rate, fluids encountered, borehole stability and equipment
maintenance, among others.
The Malanza 1X is the fourth well drilled during the current campaign,
which encompasses JDZ Blocks 2, 3 and 4. It is the second well drilled in
JDZ Block 4, in which ERHC has a 19.5 percent interest.
"We are thrilled that the drilling campaign continues to progress on
schedule and we look forward to the release of comprehensive drilling
results when the operators complete their analyses," said Peter Ntephe,
chief operating officer with ERHC.
Last week, Addax finished drilling a well at the Lemba 1X prospect in JDZ
Block 3 in which ERHC has a 10 percent interest. A comprehensive analysis
that incorporates the drilling results into relevant geologic and fluid
models will now be carried out. The information from these wells is
helping the exploration team understand the geology and hydrocarbon
potential of the various prospects being drilled and provides valuable
insight into the prospectivity of the entire area.
ERHC Energy has interests in six of the nine Blocks in the offshore JDZ.
The Company has additional interests in the territorial waters of
Democratic Republic of Sao Tome & Principe 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 Sao Tome and Principe, 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
Email Contact
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