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ERHC Energy and Addax Petroleum Sign MOU for Block 4

Source: www.gulfoilandgas.com 10/28/2005, Location: Africa

ERHC Energy has entered into a memorandum of understanding with Addax Petroleum whereby Addax Petroleum will replace Noble Energy in the Noble / ERHC consortium. The memorandum of understanding between ERHC Energy and Addax Petroleum was signed on October 25, 2005 and the parties are in the process of negotiating a participation agreement.

The memorandum of understanding has been submitted to the Joint Development Authority seeking approval for Addax to replace Noble in the ERHC / Noble consortium and to assume the role of operator.

Noble informed the JDA and ERHC Energy of its decision to withdraw from participating in Block 4 and from the ERHC / Noble consortium on October 24, 2005. The ERHC / Noble consortium was awarded a 35 % interest in Block 4 and designated as the operator May 31, 2005.

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