Back ERHC Energy Inc. Reports Year End 2011 Financial Results - Marketwire

HOUSTON, TX--(Marketwire - December 14, 2011) - ERHC Energy Inc. (OTCBB: ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today announced its year-end results for fiscal 2011, which ended September 30, 2011.
As of September 30th, 2011, which is the end of ERHC's fiscal year, the Company had cash and cash equivalents and treasury bills totaling about $12,144,597, and virtually no debt.
During the 2011 fiscal year, ERHC's general and administrative expenses totaled $4,414,630, which represented a 14 percent decrease compared to fiscal 2010.
"2011 was another landmark year in the remarkable growth of ERHC," said President and CEO Peter Ntephe. "We successfully doubled the highly prospective exploration acreage under the Company's control and set in motion ERHC's evolution from a single-asset, deepwater-focused company to a multiple asset E&P player with onshore and offshore interests, which movement we expect to intensify in 2012."
ERHC holds oil and gas exploration interests in the Republic of Chad, the Sao Tome and Principe Exclusive Economic Zone (EEZ) and the Nigeria-Sao Tome and Principe Joint Development Zone (JDZ). In the Republic of Chad, ERHC has 100 percent of the interest in BDS 2008 and Manga. The Company has a 50 percent interest in Chari-Ouest Block 3. In the EEZ, ERHC holds 100 percent working interests in Blocks 4 and 11 with an option to acquire up to 15 percent working interests in two more Blocks. In the JDZ, ERHC holds working interests in Blocks 2, 3, 4, 5, 6 and 9.
ERHC has scheduled a conference call at 8:00 a.m. Central Time on Friday, December 16, 2011 to provide an update on company activities and discuss year-end financial results. Anyone interested in participating can access the call via phone or webcast.
By Phone: Dial 888-669-0676 (US & Canada) or 201-604-0467 (international) at least 10 minutes prior to the call. A telephone replay will be available through December 23, 2011 by dialing 888-632-8973 (US & Canada) or 201-499-0429 (international) and using the access code 50988289#.
By Webcast: Visit the ERHC Investor Center at http://erhc.com/investors/. Please log in at least 10 minutes in advance to register and download any necessary audio software. A replay of the audio webcast will be available shortly after the call.