ERHC Energy Chad has commenced an airborne
gravity/magnetic survey of BDS 2008 in Southern Chad.
ERHC has 100 percent of the interest in BDS 2008.
Bridgeporth is flying 4,720 line kilometers, focusing on two main areas
identified by ERHC's technical team:
-- 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.
The Doba and Doseo basins feature active exploration and development
projects with discoveries exceeding 1,290 MMBOE. ERHC also has
contracted with Bridgeporth to process and interpret the collected
gravity/magnetic data.
"We are proud to reach this major milestone in our exploration work
program in the Republic of Chad, which is an under-appreciated oil
producing nation with new fields coming on-stream that could double oil
production by the end of 2015," said ERHC President and CEO Peter
Ntephe.
Chad's oil industry, which is a net exporter of oil and has been
producing for more than a decade, boasts valuable oil and gas
infrastructure assets, including the 50,000 barrel per day Djarmaya
refinery and the Chad-Cameroon pipeline, which is situated in close
proximity to ERHC's BDS 2008 Block. According to the U.S. Energy
Information Administration, Chad is ranked 42nd in the world in crude
oil production at approximately 100,000 barrels per day.
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). Last month, ERHC announced it is
proceeding with Exploration Phase 2 in Kenya Block 11A, committing to
either acquire 3D seismic or proceed directly to drilling one
exploration well during the next two years.
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