Petroleum Africa
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Tuesday, April 28, 2015
The ERHC Energy exploration team continues to compile plans for a 2D seismic acquisition program in Chad on the BDS 2008. In conjunction with the seismic plans, the company’s management has been in discussions with firms interested in joining the company on the block.
ERHC currently holds a 100% interest in BDS 2008, which, based on the results of an aeromagnetic and gravity survey, has total Petroleum Initially in Place (PIIP) for one of ERHC’s two focus areas has been estimated at 278 million barrels (with a high case of 876 million barrels).
In West Africa in Sao Tome & Principe’s Exclusive Economic Zone (EEZ) the company said that discussions have been encouraging and continue with the IOC that signed a MoU related to Block 11 in the EEZ. Under terms of the MoU, ERHC agreed to grant first right of refusal to the IOC for a farm-out of EEZ Block 11 for a period of six months.
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