ERHC Energy raises $905,500 via series of convertible debt financings

Debt financing arrangements range from six months to two years

By Angela McDaniels

Tacoma, Wash., May 27 - ERHC Energy Inc. recently entered into $905,500 of debt financing arrangements, according to an 8-K filing with the Securities and Exchange Commission.

The debt is convertible into company stock upon maturity.

The company said the arrangements included the following:

• A two-year $500,000 debt financing arrangement;

• A nine-month $103,500 debt financing arrangement;

• A six-month $100,000 debt financing arrangement;

• A six-month $100,000 debt financing arrangement; and

• A one-year $105,000 debt financing arrangement.

No further details were disclosed in the SEC filing.

The company's stock (OTCBB: ERHE) closed at $0.05 on May 27.

ERHC is a development-stage oil and gas company based in Houston.

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