ANP-STP and ERHC mutually agreed upon the basic parameters for conducting negotiations related to ERHC’s two exploration blocks in the Sao Tome and Principe Exclusive Economic Zone (EEZ).
ERHC has a 100% working interest in Blocks 4 and 11 of the EEZ free of signature bonuses.
The company’s negotiations are scheduled to follow those of Oranto Petroleum, which has interests in EEZ Block 3, and Equator Exploration, which has interests in EEZ Blocks 5 and 12.
ANP-STP announced the signing of a PSC with Oranto for EEZ Block 3 on 13 October 2011.
Seismic data for EEZ Blocks 4 and 11 contain highly prospective structures and they are situated close to the proven hydrocarbon systems in the adjacent territorial waters of Gabon, Equatorial Guinea, Nigeria and Cameroon.
