ERHC Energy Inc. Appoints Chief Executive Officer
HOUSTON, May 3, 2010 - ERHC Energy Inc. (OTCBB: ERHE), a publicly traded American company with oil and gas assets in the highly prospective Gulf of Guinea off the coast of West Africa, today announced the appointment of Peter Ntephe as chief executive officer. Mr. Ntephe has served as chief operating officer and acting chief executive officer since 2008.
As CEO, Mr. Ntephe will continue to be responsible for ensuring that the strategic objectives of ERHC Energy and its subsidiaries are met. He is overseeing the Company's plans to seek a listing on the AIM of the London Stock Exchange and is focused on accelerating ERHC's growth strategy. Mr. Ntephe also oversees the Company's general administration and governance.
ERHC also announced election of three new directors by the shareholders at the Company's Annual Shareholders Meeting on April 27, 2010. Shareholders elected Leslie Blair, Friday Oviawe and Peter Ntephe. They join ERHC's re-elected directors, Ambassador (rtd.) Howard Jeter and Dr. Andrew Uzoigwe. The directors' terms of office will run until the Company's next Annual Shareholders Meeting.
Mr. Oviawe, one of the newly elected directors, is a Certified Public Accountant and has been appointed the Chairman of ERHC's Audit Committee.
ERHC has interests in six of the nine Blocks in the Nigeria - São Tomé & Principe Joint Development Zone. The Company also holds working interests in the São Tomé & Príncipe Exclusive Economic Zone (EEZ).
ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in the highly prospective Gulf of Guinea and the development of undeveloped and marginal oil and gas fields. ERHC is committed to creating and delivering significant value for its shareholders, investors and employees, and to sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production. For more information, visit www.erhc.com.
This press release contains statements concerning ERHC Energy Inc.'s future operating milestones, future drilling operations, the planned exploration and appraisal program, future prospects, future investment opportunities and financing plans, future shareholders' meetings, and related proceedings, as well as other matters that are not historical facts or information. Such statements are inherently subject to a variety of risks, assumptions and uncertainties that could cause actual results to differ materially from those anticipated, projected, expressed or implied. A discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports and other filings with the Securities and Exchange Commission. These factors include, among others, those relating to the Company's ability to exploit its commercial interests in the JDZ and the Exclusive Economic Zone of São Tomé and Príncipe, general economic and business conditions, changes in foreign and domestic oil and gas exploration and production activity, competition, changes in foreign, political, social and economic conditions, regulatory initiatives and compliance with governmental regulations and various other matters, many of which are beyond the Company's control. Given these concerns, investors and analysts should not place undue reliance on these statements. Each of the above statements speaks only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any of the above statements is based.