ERHC Receives Approval for BDS 2008 Retention in Chad

Source: www.gulfoilandgas.com 4/28/2014, Location: Africa

ERHC Energy Inc has now received the arreté (decree) of the President of Chad giving presidential seal of approval to the Company's retention of oil exploration Block BDS 2008 and its voluntary relinquishment of the Manga and Chari-Ouest III Blocks. ERHC had earlier announced the agreement of the Ministry of Mines, Energy and Oil to ERHC's request for relinquishment. The request was made to enable the Company to focus its resources on the highly prospective Block BDS 2008.

With the receipt of the Presidential Order clearing the path for ERHC to proceed with exploration activities in BDS 2008, the Company has commenced – in advance of a potential farm-out – the financing of approved geological and geophysical work. ERHC is currently issuing a series of convertible notes to fund magnetic/gravity surveys and, thereafter, 2D seismic acquisition.

Modeling for gravity/magnetic surveys of BDS 2008 was completed recently and constitutes the basis for ERHC's request for bids from reputable survey companies for the requisite surveys. ERHC's plan is to gather data from an area of 5,000 square kilometers, with two main areas of focus:

- North of Esso's Tega and Maku discoveries in the Doseo basin; and
- East of and on trend with OPIC's Benoy-1 margin discovery in the Doba basin.

ERHC has 100 percent of the interest in BDS 2008 in southern Chad, which encompasses 41,800 square km. or more than 10 million acres. The Block is located on the northern edge of the Doba and Doseo basin, the site of active exploration and development projects with discoveries exceeding 1,290 MMBOE. 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 barrels of oil equivalent (MMBOE).

In addition to its oil and gas exploration interests in the Republic of Chad, ERHC holds interests in the Republic of Kenya, the Sao Tome and Principe Exclusive Economic Zone (EEZ) and the Nigeria-Sao Tome and Principe Joint Development Zone (JDZ).

For more information about related Opportunities and Key Players visit West Africa Projects


United States >>  8/18/2022 - EnSight IV Energy Partners, LLC and EnSight Haynesville Partners, LLC, two privately held companies, sold Tellurian Inc. (Tellurian) (TELL) their asse...
Germany >>  8/15/2022 - The ALH Group is indirectly acquiring 49.9% of a portfolio of sixteen solar farms with a total capacity of 597 megawatts belonging to EnBW Energie Bad...

Norway >>  8/15/2022 - Vår Energi has acquired 30% ownership in production licenses (PL) 820S and PL 820 SB (north of the Balder field in the North Sea) from Lime Petroleum,...
United States >>  8/15/2022 - Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG”) today announced the closing of its previously announced acquisition of non-operated Williston Basin ass...

Spain >>  8/12/2022 - F2i, Italy's leading infrastructure fund, and Crédit Agricole Assurances have signed an agreement to acquire from the Villar Mir Group wind farms in o...
Brazil >>  8/11/2022 - Petrobras informs that it has begun the opportunity disclosure stage (teaser), referring to the sale of its mining rights for research and mining of p...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.