Petroleum Africa
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Tuesday, April 29, 2014
ERHC Energy Inc. received the decree from the President of Chad giving the presidential seal of approval to its retention of oil exploration Block BDS 2008 and its voluntary relinquishment of the Manga and Chari-Ouest III Blocks. ERHC had earlier announced the agreement of the Ministry of Mines, Energy and Oil to ERHC’s request for relinquishment.
The request was made to enable the company to focus its resources on the highly prospective Block BDS 2008.
This clears the path for the company to proceed with exploration activities in BDS 2008 which the company has commenced, in advance of a potential farm-out, the financing of approved geological and geophysical work. ERHC is currently issuing a series of convertible notes to fund a magnetic/gravity surveys and following that a 2D seismic acquisition program.
Modeling for gravity/magnetic surveys of BDS 2008 was completed recently and constitutes the basis for ERHC’s request for bids from reputable survey companies for the requisite surveys. The company’s plan is to gather data from an area of 5,000 sq km, with two main areas of focus – North of Esso’s Tega and Maku discoveries in the Doseo basin, and east of and on trend with OPIC’s Benoy-1 margin discovery in the Doba basin.
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