ERHC Energy (OTCBB: ERHE)ERHC Energy (OTCBB: ERHE)

Presented October 27, 2008

By David Bovell

Vice President Corporate Development

Cautionary StatementCautionary Statement

Statements during this presentation may concern 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, response to the Senate Subcommittee investigation, developments in the SEC investigation of the Company 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 territorial waters 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.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms on this Web site, such as "recoverable reserves potential," that the SEC's guidelines generally prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K. You may review our filing with the SEC at the following Web site: www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000799235.

Introducing ERHCIntroducing ERHC

• Based in Houston, Texas USA• Publicly traded on NASDAQ’s Over the Counter

Bulletin Board (OTCBB) – ERHE.OB• Valuable oil and gas assets in the Gulf of

Guinea• Seeking new assets and business partners

What Makes Us DifferentWhat Makes Us Different

• Sound strategy and record of accomplishment

• Strong financial position

• Strong leadership

• World class assets

• Strong technical partners

Business StrategyBusiness Strategy

We have created significant opportunities in the Gulf of Guinea and, through strategic alliances, have begun the process of exploiting these. In 2009

progress will be demonstrable.

Strong Cash PositionStrong Cash Position

• ERHC is well placed to prosper during the credit crunch

• Latest quarterly financial report (Q3 2008):– Cash assets of $32.4 million USD– Debt of less than $35,000

• The credit crunch will create opportunities

“…Those in a weaker position are having to sell assets or find partners for their most promising projects to get the

cash infusions they need.”- Wall Street Journal

October 7, 2008

Established Yet Established Yet EmergingEmerging

• Began trading on OTC in 2001

• Market cap: $213 million

• Percentage of shares held by insiders: 51.7%

Strong ManagementStrong Management

• Peter Ntephe, Chief Operating Officer 20 years of experience in corporate law and governance. Oversees the general administration and governance of ERHC and its subsidiaries, ensuring the group meets its strategic objectives.

• David Bovell, Vice President, Corporate DevelopmentExpertise in corporate finance. He oversees strategies for corporate growth, including identification of appropriate opportunities for corporate mergers and acquisitions.

• Jim Ledbetter, Vice President, Technical More than 25 years in exploration and production projects around the world. Manages relation-ships with consortium partners and regulatory agencies, and helps to expand its asset base.

• Sylvan Odobulu, Controller Principal accounting officer, responsible for overseeing ERHC's day to day operations, preparing financial statements and managing the activities of the company's staff and service providers.

Strong BoardStrong Board

• Ambassador (rtd.) Howard Jeter Ambassador Jeter was U.S. Ambassador to Nigeria and to the Republic of Botswana, and also served as Deputy Assistant Secretary of State for African Affairs, Director of West African Affairs, and Special Presidential Envoy to Liberia.

• Andrew Uzoigwe Dr. Uzoigwe retired from Nigerian National Petroleum Corporation (NNPC) after holding numerous positions including Group Executive Director.

• Clement Nwizubo Mr. Nwizubo is a Certified Public Accountant, and member of America Institute of Certified Public Accountants (AICPA). He is President of Clement E. Nwizubo, CPA, PC. Earlier he was the Manager of Accounting and Financial Reporting at Primerica Corporation and other accounting positions.

World Class AssetsWorld Class Assets

ERHC has oil & gas exploration rights in a region of the world that

experts believe can produce billions of barrels of oil

Where Do We Believe Where Do We Believe the Oil Is?the Oil Is?

Assets in the Gulf of Assets in the Gulf of GuineaGuinea

• Rights in six of the nine blocks of the Joint Development Zone

• Additional preferential rights in the Sao Tome & Principe Exclusive Economic Zone

Highly Prospective Highly Prospective RegionRegion

“The Gulf of Guinea…is one of the most prolific hydrocarbon provinces in the world, with oil and gas discoveries of more than 10 Bbbl and tremendous potential beyond that level.”

-Dr. Edmund Daukoru

President of OPEC in 2006

Nearby DiscoveriesNearby Discoveries

Bonga

Agbami

Ikija-1

Akpo-1

Ukot

Nnwa-2

Significant Discoveries:– Bonga: 700 million barrels– Ikija-1: 500 million barrels– Agbami: 1 billion barrels– Nnwa-2: Gas discovery– Akpo-1: 500 million barrels– Ukot: Oil discovery

The JDZ and EEZThe JDZ and EEZ

EEZEEZJDZ

JDZ– 34,548 sq km area– Approximately 200 km off

the coastline of Nigeria and São Tomé & Principe

EEZ– Approximately 160,000

square km area

ERHC’s JDZ InterestsERHC’s JDZ Interests

JDZ Block ERHC Original Participating Interest

ERHC Joint Bid Participating Interest

Participating Interest Sold

Current ERHC Interest

Block 2 30% 35% 43% 22%

Block 3 20% 5% 15% 10%

Block 4 25% 35% 40.5% 19.5%

Block 5 15% No Contracts No Contracts 15%

Block 6 15% “ “ 15%

Block 9 20% “ “ 20%

Recoverable Reserves Recoverable Reserves PotentialPotential

The combined recoverable reserves potential in the nine JDZ Blocks is

estimated at 14.4 billion barrelsSource: WesternGeco

Significant FootholdSignificant Foothold

In total, ERHC has 12% of the exploration and production rights awarded in the

JDZ by the Joint Development Authority

JDZ Deepwater BlocksJDZ Deepwater Blocks

JDZ Block 3 (10% WI)

Lemba ProspectAddax Estimate:

270 MMbbl for Block

JDZ Block 4 (19.5% WI)

Kina ProspectAddax Estimate:

1,134 MMbbl for Block

JDZ Block 1ERHC does

not haveinterest

JDZ Block 2(22% WI)

Bomu ProspectAddax Estimate:

437 MMbbl for Block

Kina Prospect in JDZ Kina Prospect in JDZ Block 4Block 4

Exploration ImminentExploration Imminent

Operators in three JDZ Blocks in which ERHC has interests have indicated exploratory drilling will

commence in 2009

Full Carry RelationshipsFull Carry Relationships

• ERHC has a full carry in JDZ Blocks 2, 3 and 4

• 100% of ERHC’s upfront costs for exploration and production are covered by our technical partners

• Costs will be paid from a portion of profit oil and cost oil

ERHC’s EEZ InterestsERHC’s EEZ Interests

• 100% interest in up to two blocks of ERHC’s choice

• Option for up to 15% paid working interest in two blocks of ERHC’s choice

• ERHC responsible for proportionate share of costs

EEZ

Strong Technical Strong Technical PartnersPartners

• Addax Petroleum (TSX: AXC and LSE: AXC)– One of the largest oil

producers in West Africa, plus significant production in the Middle East

Strong Technical Strong Technical PartnersPartners

• Sinopec (NYSE: SNP)– Operates an integrated oil

and gas and chemical company in the People’s Republic of China and Hong Kong

’’06 Cash Infusion Provides 06 Cash Infusion Provides Stability, OpportunityStability, Opportunity

JDZ Block Participating interests sold to

Proceeds of sales (millions)

Participating agreement

Block 2: Sinopec and Addax

$20.4

Block 3: Addax $7.5

Block 4: Addax $18.0

Exploration is ImminentExploration is Imminent

• JDZ Block 2Sinopec has secured Joint Development Authority (JDA) approval to drill the Bomu Prospect and the budget is approved

• JDZ Block 3Anadarko has secured JDA approval to drill the Lemba Prospect and the budget is approved

• JDZ Block 4Addax has secured JDA approval to drill the Kina Prospect and the budget is approved

Near-Term Exploration Near-Term Exploration EffortsEfforts

First Half of 2009– ERHC’s technical partners are engaged in a

worldwide search for an available deepwater drill ship

– When secured, expect to commence exploration in early 2009

2009 Exploration Plans 2009 Exploration Plans

Second Half of 2009– Addax and Sinopec

have contracted to take possession of Deepwater drill ship Aban Abraham

Corporate Growth Corporate Growth InitiativeInitiative

Our growth strategy is to build on our success through additional

discoveries of undervalued assets in West Africa

Risk DiversificationRisk Diversification

We will diversify risk by pursuing other growth opportunities by:

– Acquiring revenue-producing assets in diverse geographical areas

– Forging new strategic business partnerships and alliances

Corporate Growth Corporate Growth Action ItemsAction Items

• Leverage technical and geographic expertise

• Examining opportunities:– North America– Europe– Africa

SummarySummary

• You can benefit from ERHC Energy’s vision and determination

• Exploratory drilling is nearly ready to begin• ERHC’s assets are highly prospective• To accelerate growth we are seeking

acquisitions and business partners

Contact InformationContact Information

Mr. David Bovell

Phone: +44-776-873-5695

E-mail: dbovell@erhc.com

Web: www.erhc.com