ERHC Energy update

At Kenya Block 11A the exploration team is making steady progress toward drilling during the current "First Additional Phase" of exploration. 2D seismic mapping has been completed. To date, over a dozen structural prospects and leads have been identified and supported. The parties' technical team is calculating volumetrics for identified prospects and leads in the Block, which will help determine the location of the first well.

The 2015 work program includes securing the requisite drilling rig, determining the location for drilling the first exploration well, completing an Environmental Impact Assessment for the drilling location and developing the well design. The work program is underway with long lead items for well operations already tendered. Drilling of the first exploration well is expected during the first quarter of 2016, if all conditions precedent are met.

ERHC currently holds a carried 35% interest in Block 11A, which is operated by CEPSA with a 55% interest.

ERHC are working with Deloitte Corporate Finance LLC (DCF) on a further farm-down of interest in the Block. Selling stakes in acreage to other companies is common practice in the oil industry to spread risk and exploration and development cost. DCF's involvement continues to assist this process.

Adapted from press release by Joe Green

Published on 18/02/2015

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