ERHC Energy (OTCBB: ERHE) Presented October 27, 2008 By David Bovell Vice President Corporate Development

Cautionary Statement Statements during this presentation may concern ERHC Energy Inc.’s future operating milestones, future drilling operations, the planned exploration and appraisal program, future prospects, future investment opportunities and financing plans, future shareholders’ meetings, response to the Senate Subcommittee investigation, developments in the SEC investigation of the Company and related proceedings, as well as other matters that are not historical facts or information. Such statements are inherently subject to a variety of risks, assumptions and uncertainties that could cause actual results to differ materially from those anticipated, projected, expressed or implied. A discussion of the risk factors that could impact these areas and the Company’s overall business and financial performance can be found in the Company’s reports and other filings with the Securities and Exchange Commission. These factors include, among others, those relating to the Company’s ability to exploit its commercial interests in the JDZ and the exclusive territorial waters of São Tomé and Príncipe, general economic and business conditions, changes in foreign and domestic oil and gas exploration and production activity, competition, changes in foreign, political, social and economic conditions, regulatory initiatives and compliance with governmental regulations and various other matters, many of which are beyond the Company’s control. Given these concerns, investors and analysts should not place undue reliance on these statements. Each of the above statements speaks only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any of the above statements is based. Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms on this Web site, such as "recoverable reserves potential," that the SEC's guidelines generally prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K. You may review our filing with the SEC at the following Web site: www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000799235 .

Statements during this presentation may concern ERHC Energy Inc.’s future operating milestones, future drilling operations, the planned exploration and appraisal program, future prospects, future investment opportunities and financing plans, future shareholders’ meetings, response to the Senate Subcommittee investigation, developments in the SEC investigation of the Company and related proceedings, as well as other matters that are not historical facts or information. Such statements are inherently subject to a variety of risks, assumptions and uncertainties that could cause actual results to differ materially from those anticipated, projected, expressed or implied. A discussion of the risk factors that could impact these areas and the Company’s overall business and financial performance can be found in the Company’s reports and other filings with the Securities and Exchange Commission. These factors include, among others, those relating to the Company’s ability to exploit its commercial interests in the JDZ and the exclusive territorial waters of São Tomé and Príncipe, general economic and business conditions, changes in foreign and domestic oil and gas exploration and production activity, competition, changes in foreign, political, social and economic conditions, regulatory initiatives and compliance with governmental regulations and various other matters, many of which are beyond the Company’s control. Given these concerns, investors and analysts should not place undue reliance on these statements. Each of the above statements speaks only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any of the above statements is based.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms on this Web site, such as "recoverable reserves potential," that the SEC's guidelines generally prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K. You may review our filing with the SEC at the following Web site: www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000799235 .

Introducing ERHC Based in Houston, Texas USA Publicly traded on NASDAQ’s Over the Counter Bulletin Board (OTCBB) – ERHE.OB Valuable oil and gas assets in the Gulf of Guinea Seeking new assets and business partners

Based in Houston, Texas USA

Publicly traded on NASDAQ’s Over the Counter Bulletin Board (OTCBB) – ERHE.OB

Valuable oil and gas assets in the Gulf of Guinea

Seeking new assets and business partners

What Makes Us Different Sound strategy and record of accomplishment Strong financial position Strong leadership World class assets Strong technical partners

Sound strategy and record of accomplishment

Strong financial position

Strong leadership

World class assets

Strong technical partners

Business Strategy We have created significant opportunities in the Gulf of Guinea and, through strategic alliances, have begun the process of exploiting these. In 2009 progress will be demonstrable.

We have created significant opportunities in the Gulf of Guinea and, through strategic alliances, have begun the process of exploiting these. In 2009 progress will be demonstrable.

Strong Cash Position ERHC is well placed to prosper during the credit crunch Latest quarterly financial report (Q3 2008): Cash assets of $32.4 million USD Debt of less than $35,000 The credit crunch will create opportunities

ERHC is well placed to prosper during the credit crunch

Latest quarterly financial report (Q3 2008):

Cash assets of $32.4 million USD

Debt of less than $35,000

The credit crunch will create opportunities

“… Those in a weaker position are having to sell assets or find partners for their most promising projects to get the cash infusions they need.” Wall Street Journal October 7, 2008

“… Those in a weaker position are having to sell assets or find partners for their most promising projects to get the cash infusions they need.”

Wall Street Journal

October 7, 2008

Established Yet Emerging Began trading on OTC in 2001 Market cap: $213 million Percentage of shares held by insiders: 51.7%

Began trading on OTC in 2001

Market cap: $213 million

Percentage of shares held by insiders: 51.7%

Strong Management Peter Ntephe, Chief Operating Officer 20 years of experience in corporate law and governance. Oversees the general administration and governance of ERHC and its subsidiaries, ensuring the group meets its strategic objectives. David Bovell, Vice President, Corporate Development Expertise in corporate finance. He oversees strategies for corporate growth, including identification of appropriate opportunities for corporate mergers and acquisitions. Jim Ledbetter, Vice President, Technical More than 25 years in exploration and production projects around the world. Manages relation-ships with consortium partners and regulatory agencies, and helps to expand its asset base. Sylvan Odobulu, Controller Principal accounting officer, responsible for overseeing ERHC's day to day operations, preparing financial statements and managing the activities of the company's staff and service providers.

Peter Ntephe, Chief Operating Officer

20 years of experience in corporate law and governance. Oversees the general administration and governance of ERHC and its subsidiaries, ensuring the group meets its strategic objectives.

David Bovell, Vice President, Corporate Development

Expertise in corporate finance. He oversees strategies for corporate growth, including identification of appropriate opportunities for corporate mergers and acquisitions.

Jim Ledbetter, Vice President, Technical

More than 25 years in exploration and production projects around the world. Manages relation-ships with consortium partners and regulatory agencies, and helps to expand its asset base.

Sylvan Odobulu, Controller

Principal accounting officer, responsible for overseeing ERHC's day to day operations, preparing financial statements and managing the activities of the company's staff and service providers.

Strong Board Ambassador (rtd.) Howard Jeter Ambassador Jeter was U.S. Ambassador to Nigeria and to the Republic of Botswana, and also served as Deputy Assistant Secretary of State for African Affairs, Director of West African Affairs, and Special Presidential Envoy to Liberia. Andrew Uzoigwe Dr. Uzoigwe retired from Nigerian National Petroleum Corporation (NNPC) after holding numerous positions including Group Executive Director. Clement Nwizubo Mr. Nwizubo is a Certified Public Accountant, and member of America Institute of Certified Public Accountants (AICPA). He is President of Clement E. Nwizubo, CPA, PC. Earlier he was the Manager of Accounting and Financial Reporting at Primerica Corporation and other accounting positions.

Ambassador (rtd.) Howard Jeter

Ambassador Jeter was U.S. Ambassador to Nigeria and to the Republic of Botswana, and also served as Deputy Assistant Secretary of State for African Affairs, Director of West African Affairs, and Special Presidential Envoy to Liberia.

Andrew Uzoigwe

Dr. Uzoigwe retired from Nigerian National Petroleum Corporation (NNPC) after holding numerous positions including Group Executive Director.

Clement Nwizubo

Mr. Nwizubo is a Certified Public Accountant, and member of America Institute of Certified Public Accountants (AICPA). He is President of Clement E. Nwizubo, CPA, PC. Earlier he was the Manager of Accounting and Financial Reporting at Primerica Corporation and other accounting positions.

World Class Assets ERHC has oil & gas exploration rights in a region of the world that experts believe can produce billions of barrels of oil

ERHC has oil & gas exploration rights in a region of the world that experts believe can produce billions of barrels of oil

Where Do We Believe the Oil Is?

Assets in the Gulf of Guinea Rights in six of the nine blocks of the Joint Development Zone Additional preferential rights in the Sao Tome & Principe Exclusive Economic Zone

Rights in six of the nine blocks of the Joint Development Zone

Additional preferential rights in the Sao Tome & Principe Exclusive Economic Zone

Highly Prospective Region “ The Gulf of Guinea…is one of the most prolific hydrocarbon provinces in the world, with oil and gas discoveries of more than 10 Bbbl and tremendous potential beyond that level.” Dr. Edmund Daukoru President of OPEC in 2006

“ The Gulf of Guinea…is one of the most prolific hydrocarbon provinces in the world, with oil and gas discoveries of more than 10 Bbbl and tremendous potential beyond that level.”

Dr. Edmund Daukoru

President of OPEC in 2006

Nearby Discoveries Significant Discoveries: Bonga: 700 million barrels Ikija-1: 500 million barrels Agbami: 1 billion barrels Nnwa-2: Gas discovery Akpo-1: 500 million barrels Ukot: Oil discovery Bonga Agbami Ikija-1 Akpo-1 Ukot Nnwa-2

Significant Discoveries:

Bonga: 700 million barrels

Ikija-1: 500 million barrels

Agbami: 1 billion barrels

Nnwa-2: Gas discovery

Akpo-1: 500 million barrels

Ukot: Oil discovery

The JDZ and EEZ JDZ 34,548 sq km area Approximately 200 km off the coastline of Nigeria and São Tomé & Principe EEZ Approximately 160,000 square km area EEZ JDZ

JDZ

34,548 sq km area

Approximately 200 km off the coastline of Nigeria and São Tomé & Principe

EEZ

Approximately 160,000 square km area

ERHC’s JDZ Interests “ “ No Contracts 35% 5% 35% ERHC Joint Bid Participating Interest 20% 15% 15% 25% 20% 30% ERHC Original Participating Interest 10% 15% Block 3 19.5% 40.5% Block 4 15% No Contracts Block 5 20% “ Block 9 15% “ Block 6 22% 43% Block 2 Current ERHC Interest Participating Interest Sold JDZ Block

Recoverable Reserves Potential The combined recoverable reserves potential in the nine JDZ Blocks is estimated at 14.4 billion barrels Source: WesternGeco

The combined recoverable reserves potential in the nine JDZ Blocks is estimated at 14.4 billion barrels

Source: WesternGeco

Significant Foothold In total, ERHC has 12% of the exploration and production rights awarded in the JDZ by the Joint Development Authority

In total, ERHC has 12% of the exploration and production rights awarded in the JDZ by the Joint Development Authority

JDZ Deepwater Blocks JDZ Block 3 (10% WI) Lemba Prospect Addax Estimate: 270 MMbbl for Block JDZ Block 4 (19.5% WI) Kina Prospect Addax Estimate: 1,134 MMbbl for Block JDZ Block 1 ERHC does not have interest JDZ Block 2 (22% WI) Bomu Prospect Addax Estimate: 437 MMbbl for Block

Kina Prospect in JDZ Block 4

Exploration Imminent Operators in three JDZ Blocks in which ERHC has interests have indicated exploratory drilling will commence in 2009

Operators in three JDZ Blocks in which ERHC has interests have indicated exploratory drilling will commence in 2009

Full Carry Relationships ERHC has a full carry in JDZ Blocks 2, 3 and 4 100% of ERHC’s upfront costs for exploration and production are covered by our technical partners Costs will be paid from a portion of profit oil and cost oil

ERHC has a full carry in JDZ Blocks 2, 3 and 4

100% of ERHC’s upfront costs for exploration and production are covered by our technical partners

Costs will be paid from a portion of profit oil and cost oil

ERHC’s EEZ Interests 100% interest in up to two blocks of ERHC’s choice Option for up to 15% paid working interest in two blocks of ERHC’s choice ERHC responsible for proportionate share of costs EEZ

100% interest in up to two blocks of ERHC’s choice

Option for up to 15% paid working interest in two blocks of ERHC’s choice

ERHC responsible for proportionate share of costs

Strong Technical Partners Addax Petroleum (TSX: AXC and LSE: AXC) One of the largest oil producers in West Africa, plus significant production in the Middle East

Addax Petroleum (TSX: AXC and LSE: AXC)

One of the largest oil producers in West Africa, plus significant production in the Middle East

Strong Technical Partners Sinopec (NYSE: SNP) Operates an integrated oil and gas and chemical company in the People’s Republic of China and Hong Kong

Sinopec (NYSE: SNP)

Operates an integrated oil and gas and chemical company in the People’s Republic of China and Hong Kong

’ 06 Cash Infusion Provides Stability, Opportunity $18.0 $7.5 $20.4 Proceeds of sales (millions)  Addax Block 4:  Addax Block 3:  Sinopec and Addax Block 2: Participating agreement Participating interests sold to JDZ Block

Exploration is Imminent JDZ Block 2 Sinopec has secured Joint Development Authority (JDA) approval to drill the Bomu Prospect and the budget is approved JDZ Block 3 Anadarko has secured JDA approval to drill the Lemba Prospect and the budget is approved JDZ Block 4 Addax has secured JDA approval to drill the Kina Prospect and the budget is approved

JDZ Block 2

Sinopec has secured Joint Development Authority (JDA) approval to drill the Bomu Prospect and the budget is approved

JDZ Block 3

Anadarko has secured JDA approval to drill the Lemba Prospect and the budget is approved

JDZ Block 4

Addax has secured JDA approval to drill the Kina Prospect and the budget is approved

Near-Term Exploration Efforts First Half of 2009 ERHC’s technical partners are engaged in a worldwide search for an available deepwater drill ship When secured, expect to commence exploration in early 2009

First Half of 2009

ERHC’s technical partners are engaged in a worldwide search for an available deepwater drill ship

When secured, expect to commence exploration in early 2009

2009 Exploration Plans Second Half of 2009 Addax and Sinopec have contracted to take possession of Deepwater drill ship Aban Abraham

Second Half of 2009

Addax and Sinopec have contracted to take possession of Deepwater drill ship Aban Abraham

Corporate Growth Initiative Our growth strategy is to build on our success through additional discoveries of undervalued assets in West Africa

Our growth strategy is to build on our success through additional discoveries of undervalued assets in West Africa

Risk Diversification We will diversify risk by pursuing other growth opportunities by: Acquiring revenue-producing assets in diverse geographical areas Forging new strategic business partnerships and alliances

We will diversify risk by pursuing other growth opportunities by:

Acquiring revenue-producing assets in diverse geographical areas

Forging new strategic business partnerships and alliances

Corporate Growth Action Items Leverage technical and geographic expertise Examining opportunities: North America Europe Africa

Leverage technical and geographic expertise

Examining opportunities:

North America

Europe

Africa

Summary You can benefit from ERHC Energy’s vision and determination Exploratory drilling is nearly ready to begin ERHC’s assets are highly prospective To accelerate growth we are seeking acquisitions and business partners

You can benefit from ERHC Energy’s vision and determination

Exploratory drilling is nearly ready to begin

ERHC’s assets are highly prospective

To accelerate growth we are seeking acquisitions and business partners

Contact Information Mr. David Bovell Phone: +44-776-873-5695 E-mail: [email_address] Web: www.erhc.com

Mr. David Bovell

Phone: +44-776-873-5695

E-mail: [email_address]

Web: www.erhc.com