Subsequent Events

12 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

Note 11 – Subsequent Events

On October 8, 2015, Adar Bays LLC, converted its total outstanding principal balance of $12,000 into 252,743 shares of the Company’s common stock.

Subsequent to September 30, 2015, Union Capital, LLC converted its total principal balance of $15,000 into 261,827 shares of the Company’s common stock.

Subsequent to September 30, 2015, the Company has reached an agreement with Kosmos Energy (NYSE: KOS), a leading independent oil and gas exploration and production company to transfer all ERHC's rights to Block 11 of the Săo Tomé and Principe Exclusive Economic Zone (EEZ) to Kosmos. The agreement has been approved by the National Petroleum Agency of Sao Tome & Principe ("ANP-STP") as required in the requisite Production Sharing Contract ("PSC") for EEZ Block 11. In consideration for the transfer (Sale & Purchase Agreement), ERHC will be entitled to receive from Kosmos as follow:

· A limited refund of verifiable past costs of which $1.5 million has been received to date.

· Cash consideration of $2.5 million.

· Further value consideration dependent on whether exploration (i) proceeds through seismic to drilling of wells and (ii) results in a commercial discovery and production.

On December 15, 2015, ERHCs' shareholders approved a proposal authorizing ERHCs' Board of Directors to effect a one hundred for-one reverse stock split of ERHC's common stock. The reverse stock split took effect on January 15, 2016.  The number of common stocks for periods presented in the consolidated financial statements has been retroactively adjusted to reflect the one-for-hundred reverse stock split.