The company said it is particularly interested in Exile’s carried interest in the Akepo field in the Niger Delta, which is expected to start production later this year or early in the next year.
The Akepo field, which is operated by Sogenal, is located in the shallow waters of the southeastern area of Nigeria in OML 90.
Exile holds a 10% equity and up to a 17.5% economic interest in the field, with Oando Petroleum and Exploration carrying its costs.
ERHC president and CEO Peter Ntephe said the company’s intention is to gain the ability to participate in decision-making and explore synergistic partnerships that would be value-enhancing to its respective shareholders.
