ERHC Energy leapt $0.045 at today's opening and saw volume of 836,000 shares in the first 30 minutes, but fell back slightly.
News from UpstreamOnline that the company has captured two of the oil-laden blocks on offer in the Nigeria-Sao Tome Joint Development Zone brought a raft of buyers to the stock, and a purchase of 100,000 shares was seen in the very first minute.
At 10:00am EST, the company's shares (OTC BB symbol: ERHE) were holding steady at $0.73 bid, $0.74 asked, down from a high of $0.742 x $0.745.
Announcement of awards could come as early as April 9, JDZ officials announced lat week.
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