ERHC Signs PSC for Chad Oil Blocks

ERHC Energy has signed a production sharing contract on three oil blocks near the Doba Basin oilfield awarded by the Republic of Chad.

ERHC owns a 100% interest in the BDS 2008 and Manga blocks and a 50% interest in Chari-Ouest Block 3.

BDS 2008 and Chari-Ouest Block 3 are located next to the Doba Basin oilfield and the Manga block is located north of Lake Chad, along the border with Niger.

ERHC CEO Peter Ntephe said that firm will work quickly and closely with Chad authorities towards a mutually beneficial exploration programme.

Chad has proven oil reserves of 1.5 billion barrels with studies establishing the prospect of more discoveries.