News Release
ERHC Visits Gulf of Guinea Island Nation to Meet with Government Leaders
BROUSSARD, La., Sept. 23 /PRNewswire/ -- This week, Louisiana -based Environmental Remediation Holding Corp. OTC Bulletin Board: ERHC) will present the Democratic Republic of Sao Tome & Principe (DRSP) with a development plan for the nation's oil and gas reserves in the Gulf of Guinea, West Africa.
ERHC will be in the country on Tuesday to meet with government leaders.
Representatives from ERHC will include Jim R. Callender, Sr., ERHC's
new COO and director of international operations (formerly of Unocal),
Noreen Wilson, vice president of finance, and former U.S. senator from
Indiana, Vance Hartke, who serves as an advisor to the company.
The group will present a preliminary feasibility study developed by
ERHC- based on favorable regional seismic surveys-and initiate
negotiations of concession boundaries for both the joint venture and
third party E&Ps. ERHC will also lay out a general environmental plan
and propose a structure for a jointly owned oil and gas company.
In June, ERHC entered into an oil & gas joint venture with the DRSP,
which enlisted ERHC as the country's primary liaison and consultant to
the oil and gas industry. ERHC is joined by Procura Financial
Consultants, c.c. (PFC), of South Africa, as a junior partner.
The Gulf of Guinea has become one of the most active exploration areas
in the African continent, and the former Portuguese colony is one of
the last countries in the area to develop oil and gas production. The
gulf region has been compared to the Gulf of Mexico, with potential
reserves equal to those of Kuwait.
The archipelago of Sao Tome & Principe comprises two islands that
straddle the equator in the Gulf of Guinea, about 200 miles off the
coast of Gabon, West Africa. Sao Tome & Principe is a founding member
of the Gulf of Guinea Commission, which oversees the development of the
region's oil and other natural resources.
Environmental Remediation Holding Corp. is engaged in oil and gas
production activities and environmental remediation, both domestically
and internationally. Through a series of acquisitions, the company has
formed a unique, full service organization dedicated to providing oil
and gas related services to major oil companies and governmental
institutions. This includes the development and rework of oil and gas
properties, plug and abandonment services (P&A), environmental
engineering and consultation, hazardous waste management (including
NORM waste), non-hazardous waste clean-up, transportation and disposal,
and the manufacture and distribution of waste clean-up materials. The
company's stock is traded on the NASD OTC Bulletin Board under the
symbol "ERHC" and is listed in Standard & Poor's Corporate Records.
For more information, visit ERHC's website at www.erhc.com ." This
release may contain forward looking statements regarding ERHC's future
plans and expected performance based upon assumptions ERHC believes to
be reasonable. A number of risks and uncertainties could cause actual
results to differ materially from these statements, including without
limitation: fluctuations in the price of crude oil and natural gas, the
success rate of exploration efforts, the timeliness of development
activities in Texas, Utah, and the Gulf of Guinea, West Africa; changes
in the political and economic environment in which ERHC has
international operations as well as other risk factors described from
time to time in the company's documents and reports filed with the
Securities and Exchange Commission.
SOURCE Environmental Remediation Holding Corp.
-0- 09/23/97 /CONTACT: Noreen Wilson, V.P.
or Jim Griffin, Director of ERHC, 516-433-9119 or Nando Rita of PFC,
011-239-1221-688; Investor Relations for ERHC or Geoffrey Plank or Fred
Johnston of GFC Communications, 561-655-7575/ |
