ERHC Energy Inc. Reverse Stock Split Becomes Effective

Source: www.gulfoilandgas.com 1/15/2016, Location: North America

ERHC Energy Inc., a publicly traded American company with oil and gas assets in Sub-Saharan Africa, announced that a 100-for-one reverse stock split approved by shareholders has become effective. As is standard in such circumstances, shares of ERHC Energy are trading with a slightly modified ticker symbol: ERHED. After 20 trading days, the ticker symbol will revert back to ERHE.

The management and Board of Directors of ERHC proposed a reverse stock split as a way to enhance the Company's balance sheet, while better positioning ERHC to take advantage of certain merger and acquisition interest.

ERHC Energy's operations are focused on Sub Saharan Africa. It holds onshore oil and gas exploration interests in Chad and Kenya as well as deepwater interests in the Gulf of Guinea. ERHC holds a 35 percent interest in Kenya Block 11A, where the first exploration well is expected to be spudded toward the end of the first quarter of 2016.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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