ERHC Energy Inc. Reveals Early Positive Results From Airborne FTG Survey of Kenya Block 11A
26 Novembro 2013 - 10:01AM
ERHC Energy Inc. (OTCBB:ERHE), a publicly traded American company
with oil and gas assets in Sub-Saharan Africa, today announced
initial encouraging results from an airborne Full Tensor Gravity
Gradiometry (FTG) survey. Bell Geospace, a world leader in gravity
gradiometry, is flying the FTG on behalf of ERHC's wholly owned
subsidiary, ERHC Energy Kenya Ltd. When completed in a few weeks,
the survey will have covered up to 15,500 line kilometers.
An independent third party is bearing the cost of the FTG survey
under the Company's previously announced financing initiatives.
"Preliminary results confirm the presence of the Lotikipi basin
and it appears to have a larger extent than was indicated by
gravity data acquired by previous operators of this area," said
Gertjan van Mechelen, ERHC's exploration manager. "Obviously these
results are very encouraging and we are looking forward to seeing
the eventual final results upon completion of this survey. Those
final results are bound to show in much more detail the internal
structure of the Lotikipi rift basin and will allow us to identify
the most prospective areas."
ERHC plans to pursue a rift margin play in Block 11A similar to
those that led to recent major discoveries in neighboring Uganda
and northwest Kenya. Block 11A is located to the north of the
Lokichar Basin, which was the focus of international attention last
week with an oil discovery at the Agete-1 exploratory well. This
was the fifth significant discovery in the area, joining the
Ekales-1, Etuko-1, Ngamia-1 and Twiga South-1 oil discoveries were
drilled.
FTG surveys have much higher resolution than conventional
gravity surveys and can aid significantly in identifying
prospective hydrocarbon basins. The successes of recent large oil
finds in East Africa have been attributed to this survey
method.
ERHC announced earlier this month that it has concluded a
farm-out agreement for Block 11A with a renowned integrated oil and
gas company. Under terms of the agreement, ERHC would transfer a
portion of its interest in Kenya Block 11A as well as operatorship
in exchange for a carry and other considerations. The parties are
awaiting consent of the government of the Republic of Kenya before
finalizing the agreement.
Those with questions are encouraged to reference the Company's
SEC filings, which are available at http://erhc.com/secfilings/ or
contact Daniel Keeney, ERHC's investor relations representative, at
dan@dpkpr.com.
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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