ERHC Energy Inc has retained the services of Deloitte Corporate Finance LLC (DCF) to advise on the Company's oil assets in the Republics of Chad and Kenya.
The drop in global oil prices has prompted consolidation among oil exploration companies, and DCF will advise ERHC on matters related to possible joint ventures, alliances sales and/or divestitures on the Chad and Kenya licenses. ERHC currently holds a 100 percent interest in Block BDS-2008 in Southern Chad and a carried 35 percent interest in Block 11A in Northwestern Kenya.
"These are challenging times for all oil exploration companies and we are leveraging DCF's depth of skills and experience to support us in making decisions based on information that is constantly evolving," said ERHC President and CEO Dr. Peter Ntephe. "We anticipate DCF's involvement will be valuable as we pursue strategic options through access to their global network of corporate finance professionals around the world."
Beyond its assets in Chad and Kenya, ERHC also is seeking new strategic investment into the company itself.
"The current valuation of ERHC presents an exceptional opportunity for equity investors to gain access to ERHC's rich portfolio of licenses," Ntephe said.
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