ERHC Energy Presents at Congressional Briefing on Gulf of Guinea

Private Sector Energy Perspectives in the Gulf of Guinea: Aligning American and African Interests Peter Ntephe (CEO, ERHC Energy)

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.

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

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

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

Case Study
www.erhc.com

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

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

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

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%

JDZ Exploration Progress JDZ
Five-well drilling campaign completed in January 2010
Interesting drilling results
Analysis of information gathered continuing

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

Sao Tome & Principe Exclusive Economic Zone

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

Sao Tome & Principe EEZ

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

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

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

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

Conclusion
A possible model for aligning African and American business interests in the Gulf of Guinea

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ERHC Energy Presents at Congressional Briefing on Gulf of Guinea

by Dan Keeney on May 04, 2010

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ERHC Energy Presents at Congressional Briefing on Gulf of Guinea — Presentation Transcript