The news has and perhaps other information has propelled shares of ERHC over the $0.60 barrier, and it is now trading at $0.60 x $0.605 on strong volume of 4,215,310. Several trades at $0.62 proved to be blanks.
Here is the new release from ERHC Energy:
(DOW JONES) DJN: PRESS RELEASE: ERHC Energy Inc. Announces JDA Approvals in JDZ Blocks 3 and 4
HOUSTON--(BUSINESS WIRE)--Feb. 15, 2006 -- Walter Brandhuber, President and CEO, of ERHC Energy Inc. (OTCBB:ERHE) has announced the formal approval of Addax Petroleum as the operator and interest holder in Block 4 of the JDZ. The entry of Addax Petroleum was the result of a decision by Noble Energy not to continue their participation in activities in Block 4.
The JDA has also approved Addax Petroleum's replacement of Pioneer Energy Resources in Block 3. Anadarko will remain as the operator of the block. ERHC Energy Inc. does not anticipate any delays in meeting the timelines which will be established by the JDA in finalizing the JOAs or PSCs.
CONTACT: ERHC Energy Inc., Houston
Jane Barker, 713-626-4700
SOURCE: ERHC Energy Inc.
Copyright Business Wire 2006
(END) Dow Jones Newswires
February 15, 2006 11:09 ET (16:09 GMT)
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