ERIN ENERGY CORPORATION - Erin enters next phase of onshore Kenya explorationRelease Date: 21/08/2015 13:00:00 Code(s): ERN
CAMAC Energy Incorporated
(Previously Pacific Asia Petroleum Inc.)
(Incorporated and registered in Delaware, United States of America)
Share code on the NYSE MKT: CAK
Share code on the JSE: CME
USA ISIN: US1317451011
(?Camac Energy? ?the Company?)
Erin Energy Enters Next Phase of Onshore Kenya Exploration
Kenyan government grants approval to begin First Additional Exploration Period
HOUSTON, August 21, 2015 - Erin Energy Corporation (Erin Energy or the Company) (NYSE MKT:ERN)
(JSE:ERN) announced today it has been given approval by the government of Kenya to enter the First
Additional Exploration Period (FAEP) on its onshore blocks, L1B and L16.
Erin Energy completed the required work program for the Initial Exploration Period of the blocks earlier
this year, and previously announced it had exercised its right, in accordance with the provisions of the
Production Sharing Contracts, to apply for the FAEP and move to the next phase of exploration.
?We are very pleased to begin the next phase of exploration in Kenya,? said Kase Lawal, Chairman and
Chief Executive Officer. ?Our team is greatly encouraged by the results of our exploration efforts thus far,
and excited by the significant hydrocarbon potential we see on the blocks.?
The FAEP of blocks L1B and L16 is effective as of July 9, 2015 for two years. The minimum work
program for each block includes the acquisition, processing, and interpretation of 300 square kilometers
of 3D seismic data; and the drilling of one exploration well.
Erin Energy Corporation is an independent oil and gas exploration and production company focused on
energy resources in sub-Saharan Africa. Its asset portfolio consists of 9 licenses across 4 countries
covering an area of 43,000 square kilometres (10 million acres), including current production and other
exploration projects offshore Nigeria, as well as exploration licenses offshore Ghana, Kenya and The
Gambia, and onshore Kenya. Erin Energy is headquartered in Houston, Texas, and is listed on the New
York and Johannesburg Stock Exchanges under the ticker symbol ERN. More information about Erin
Energy can be found at www.erinenergy.com.
This news release contains ?forward-looking statements? within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than
statements of historical fact, concerning activities, events or developments that the Company expects,
believes or anticipates will or may occur in the future are forward-looking statements. Although the
Company believes the expectations reflected in these forward-looking statements are reasonable, they
involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect.
The Company?s actual results could differ materially from those anticipated or implied in these forward-
looking statements due to a variety of factors, including the Company?s ability to successfully finance,
drill, produce and/or develop the wells and prospects identified in this release, and risks and other risk
factors discussed in the Company?s periodic reports filed with the Securities and Exchange Commission.
All forward-looking statements are expressly qualified in their entirety by this cautionary statement. You
should not place undue reliance on forward-looking statements, which speak only as of their respective
dates. The Company undertakes no duty to update these forward-looking statements.
Source: Erin Energy Corporation
Lionel McBee, +1 713 797 2960
Chris du Toit, +27 11 593 7301
Sasfin Capital (a division of Sasfin Bank Limited)
21 August 2015
Date: 21/08/2015 01:00:00 Supplied by www.sharenet.co.za
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