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Shareholders of ERHC Energy Inc. have voted overwhelmingly in favor of the company's proposals that will enable fund raising for oil and gas exploration in the company's highly prospective acreages in east, central and west Africa. ERHC's management announced plans to raise up to $45 million for exploration work programs in Kenya's Block 11A and Chad's BDS 2008.
ERHC expects to begin exploration operations in Kenya's Block 11A by the end of calendar year 2012. The main surface feature of Block 11A is the Lotikipi plain. The proximity and in-trend relationship between the Lotikipi plain and the Abu Gabra Rift basins of southern Sudan, which are established petroleum provinces, suggest high oil and gas prospectivity.
ERHC is planning for exploration operations to commence in Chad by early 2013. The company plans to focus initially on its 100% interest in BDS 2008, which is on trend with the Doba Basin oil field that holds significant discoveries and sources of current oil production in Chad.