Businessweek

ERHC Energy Inc., a development stage company, engages in the exploration and exploitation of oil and gas resources in Africa. Operations The company’s business includes working interests in exploration acreage in the Republic of Kenya (Kenya), the Republic of Chad (Chad), the Joint Development Zone (JDZ) between the Democratic Republic of São Tome and Príncipe (STP), the Federal Republic of Nigeria (FRN or Nigeria), and the exclusive economic zone of São Tome and Príncipe (the Exclusive Economic Zone or EEZ). Chad The company holds a 90% interest in Block 11A, which encompasses 11,950.06 square kilometers or 2.95 million square acres. The company has a 100% interest in the Manga Block which is north of Lake Chad. The company holds working interests in three blocks for oil and gas exploration and development in Chad. In 2012, the company announced that it had signed a production sharing contract on one oil block with the Government of Kenya. JDZ The company has working interests in 6 of the 9 Blocks in the JDZ, a 34,548 square kilometer area approximately 200 kilo meters off the coast of Nigeria and Sao Tome and Principe. Its rights in the JDZ include 22% interest in JDZ Block 2; 10% interest in JDZ Block 3; 19.5% interest in JDZ Block 4; 15% interest in JDZ Block 5; 15% interest in JDZ Block 6; and 20% interest in JDZ Block 9. EEZ EEZ Block 4 is 5,808 square kilometers, situated directly east of the island of Príncipe. EEZ Block 11 totals 8,941 square kilometers, situated directly east of the island of São Tome and abuts the territorial waters of Gabon. The southern area of the EEZ, where EEZ Block 11 is situated, contains parts of the Ascension and Fang Fracture Zones. The company holds working interests and rights in the EEZ, including 100% working interest in EEZ Block 4 and EEZ Block 11; and option to acquire up to a 15% paid working interest in additional two blocks of its choice. Strategy The company’s strategy in Kenya and Chad is to perform exploration work and further develop assets acquired through production sharing contracts with the governments of both countries. History ERHC Energy Inc. was founded in 1986. The company, a Colorado corporation, was incorporated in 1986.