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Monday, June 2, 2014
ERHC Energy Chad awarded Bridgeporth Ltd. a contract for acquisition, processing, and interpretation of gravity/magnetic data on the BDS 2008 block in Chad. Under terms of the agreement, Bridgeporth will fly 4,720 line km over BDS 2008 commencing in Q3. ERHC has 100% of the interest in BDS 2008.
“We were impressed with Bridgeporth’s work in the early stages of ERHC’s oil and gas exploration work program in Kenya and we are happy to bring them onboard for our program in Chad,” said ERHC president and CEO Peter Ntephe. “As we saw firsthand in Kenya, we expect this gravity/magnetic data will enable the exploration team in Chad identify the most prospective areas for acquisition of 2D seismic data, which is the next step in the work program.”
Earlier this year ERHC received the arrêté (decree) of the President of Chad giving his seal of approval to the company’s retention of oil exploration Block BDS 2008 and voluntary relinquishment of the two other blocks that were also contained in the PSC. The receipt of the Presidential Order enables ERHC to focus its exploration activities on Block BDS 2008 and revamp its discussions with potential farm-in partners. Based on its current understanding of available data, ERHC estimates the un-risked resource potential in the two focus areas in BDS 2008 to be 250 million boe.
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