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ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
ERHC Energy Presents at Congressional Briefing on Gulf of Guinea
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ERHC Energy Presents at Congressional Briefing on Gulf of Guinea

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This was presented by ERHC Energy (OTCBB: ERHE) CEO Peter Ntephe. The Congressional briefing, titled “The Impact of U.S. Energy Policy on Trade with the Gulf of Guinea,” was hosted by the Greater …

This was presented by ERHC Energy (OTCBB: ERHE) CEO Peter Ntephe. The Congressional briefing, titled “The Impact of U.S. Energy Policy on Trade with the Gulf of Guinea,” was hosted by the Greater Houston Partnership and the Woodrow Wilson International Center for Scholars. It was chaired by U.S. Congressman Bobby Rush, the Chairman of the Committee on Energy and Commerce, Sub-Committee on Trade, Commerce and Consumer Protection.

Mr. Ntephe's presentation was delivered during the session on 'Private Sector Perspectives on Policy Impacts on Trade and Commerce.' Others participating included Shahid Ullah (Afren), Funsho Lawal (Voyager Exploration Limited) and Sam Smoots (Gulf of Guinea Energy Fund). It took place from 9.30am to noon at the Greater Houston Partnership's Offices in Houston.

Congresswoman Sheila Jackson-Lee and Congressman Al Green were among those that attended. Also in attendance and speaking were Tom Hardy of the US Trade and Development Agency, Peter Ballinger of OPIC and Paula Swain of EXIM Bank.

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Transcript

  • 1. Private Sector Energy Perspectives in the Gulf of Guinea: Aligning American and African Interests Peter Ntephe (CEO, ERHC Energy)
  • 2. 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 U.S. governmental authority 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 hereof. 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.
  • 3. 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 20 billion bbl and tremendous potential beyond that level.”
    • Dr. Edmund Daukoru
    • President of OPEC in 2006
  • 4. Strategic Importance to US
    • Fastest growing source of oil and gas for US markets
    • Approximates quantum of imports from Saudi
    • Quality of oil: good for refining
    • Ease of extraction (offshore fields)
    • Easy and safe transport links from to East Coast
  • 5. Challenging Business Environment
    • FCPA Issues
      • Over a dozen US oil and service companies in the GoG investigated in last few years
      • High profile convictions
    • Creeping ‘Indigenization’
      • Local Content Laws
      • Niger Delta
  • 6. Case Study
    • www.erhc.com
  • 7. Introducing ERHC
    • Incorporated in Colorado and based in Texas, USA
    • Publicly traded on the U.S. Over the Counter Bulletin Board (OTCBB) – ERHE.OB
    • Market cap: $200 million - $500million
    • Valuable E&P assets in the Gulf of Guinea
  • 8. ERHC in the Gulf of Guinea
    • Rights in six of the nine blocks of the Joint Development Zone
    • 100% of two blocks and other rights in the Sao Tome & Principe Exclusive Economic Zone
    • Exploring Other Opportunities in the Gulf of Guinea
  • 9. The JDZ and DRSTP EEZ
    • Joint Development Zone
      • 34,548 sq km area
      • Approximately 200 km off the coastline of Nigeria and São Tomé & Principe
    • Exclusive Economic Zone
      • Approximately 160,000 square km area
    EEZ JDZ
  • 10. ERHC’s JDZ Interests JDZ Block Current ERHC Interest Block 2 22% Block 3 10% Block 4 19.5% Block 5 15% Block 6 15% Block 9 20%
  • 11. JDZ Exploration Progress JDZ
    • Five-well drilling campaign completed in January 2010
    • Interesting drilling results
    • Analysis of information gathered continuing
  • 12. 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
  • 13. Sao Tome & Principe Exclusive Economic Zone
  • 14. DRSTP EEZ Status
    • ERHC exercised its preferential rights early in 2010
    • Awarded EEZ Blocks 4 and 11
    • Signature bonus free
    • Expect to enter into negotiations on Production Sharing Contracts
    • Will consider bidding for two further 15% interests
    EEZ
  • 15. Sao Tome & Principe EEZ
  • 16. Uniqueness of ERHC
    • Significant investment by African business interests
    • Sensitive to American and African host country policies
    • Subject to international corporate governance standards; regulated by the US SEC
    • Structure and governance recognized by international capital
  • 17. ERHC Access to Capital I: Equity
    • Impressive market capitalization for OTCBB company
    • Exploring listing on AIM of the London Stock Exchange for even better capitalization
  • 18. ERHC Access to Capital II: Carry
    • ‘ Carry’ arrangements with technical partners in 3 JDZ Blocks
    • Costs of exploration borne
    • by partners
    • Cost recovery from
    • production
  • 19. ERHC Opportunities
    • Technical Partners required for ERHC’s EEZ Blocks and JDZ Blocks 5, 6 and 9
    • ERHC : Possible Joint Venture Partner for American (including minority) businesses seeking access to the Gulf of Guinea
    • Equity investment proposition for American investors
  • 20. Conclusion
    • A possible model for aligning African and American business interests in the Gulf of Guinea

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