Five more blocks awarded in Nigeria-Sao Tome JDZ

06/13/2005
The Nigeria-Sao Tome and Principe Joint Development Authority in Abuja approved the award of five more blocks in the Joint Development Zone in the Gulf of Guinea.The signature bonus for the five high bids totaled $283 million for the blocks, in deep water 100 miles south of Port Harcourt, Nigeria.A participant in each block is ERHC Energy Inc., Houston, successor to Environmental Remediation Holding Corp., which had cultivated relationships with Sao Tomean officials since 1997.ERHC lists Emeka Offor as chairman and Ali Memon as president and chief executive officer. Memon, formerly with Marathon Oil Corp., joined ERHC in 2004.The five blocks cover about 3,900 sq km only a few miles south ...
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