ERHC Energy Inc. Plans to Pursue Rift Margin Plays in Kenya, Chad
Similar Rift Margin Plays Have Led to Major Discoveries in East Africa
Press Release: ERHC Energy Inc. – 3 hours ago
finance.yahoo.com
HOUSTON, Nov. 6, 2012 (GLOBE NEWSWIRE) -- ERHC Energy Inc. ( ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, this week announced that it plans to pursue rift margin plays in the Republics of Kenya and Chad similar to those that led to recent major discoveries in East Africa. Based on existing data, ERHC has delineated exploration focus areas in Block 11A in northwest Kenya and BDS 2008 in Chad.
"Kenya is at the intersection of two major rift systems -- the Cretaceous Central African rift system and the Tertiary East Africa rift system -- and we are very excited that our block's excellent location enables us to exploit the high potential for hydrocarbons that the geological occurrence promises," said ERHC Exploration Manager Gertjan van Mechelen. "We will basically pursue the same kind of rift margin play that has yielded major discoveries in neighboring Uganda as well as recent large discoveries in Kenya to the east of our Block 11A."
ERHC expects to begin exploration operations in Kenya's Block 11A by the end of 2012.
In Chad, ERHC has delineated two focus areas situated directly north of numerous major discoveries on a rift margin along the Central African Shear Zone. Regional stratigraphic mapping indicates the presence of alluvial fan deltas and lacustrine deltas in ERHC's areas of interest, which provide both reservoir and seal rocks.
"We believe there is great promise for a series of hydrocarbon discoveries in BDS 2008, along that rift margin," said ERHC President and CEO Peter Ntephe.
ERHC is planning for exploration operations to commence in Chad by early 2013.
Mr. Ntephe and Mr. Van Mechelen presented on behalf of ERHC at the Shares Magazine "Meet the Markets" event at the World Money Show in London over the weekend.
In addition to its oil and gas exploration interests in the Republic of Kenya, the Republic of Chad, the Company holds interests in the Sao Tome and Principe Exclusive Economic Zone (EEZ) and the Nigeria-Sao Tome and Principe Joint Development Zone (JDZ).
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 shareholders, 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.
The ERHC Energy Inc. logo is available at globenewswire.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 shareholders' 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 Sao Tome and Principe, 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
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