ERHC Ready for STP Investment

Friday, July 4, 2014

US independent, ERHC Energy plans to invest around $100 million on exploration and development of Block 11 offshore Sao Tome and Principe (STP). ERHC signed a 28-year PSA with the National Petroleum Agency on July 2 for Block 11. The block is located in STP’s exclusive economic zone (EEZ).

“The company will spend about $100 million on seismic studies and drilling on the block,” Peter Ntephe was quoted in a Reuters report.

ERHC also has a 100% working interest in Block 4, also located in the EEZ.

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