Erin Energy Corporation - Appointment Of Chair And CeoRelease Date: 14/03/2016 13:45:00 Code(s): ERN
Erin Energy Corporation
(Formerly CAMAC Energy Inc)
(Incorporated and registered in Delaware, United States of America)
Share code on the NYSE MKT: ERN
Share code on the JSE: ERN
(?Erin Energy? or ?the Company?)
John Hofmeister Appointed Chairman of Erin Energy
HOUSTON, March 14, 2016 ? Erin Energy Corporation (?Erin Energy? or the ?Company?)
(NYSE MKT: ERN) (JSE: ERN) announced today the appointment of John Hofmeister, a former
President at Shell Oil Company, as Chairman of the Board of Erin Energy Corporation. The
appointment will be effective the day immediately following Erin Energy?s annual meeting of
shareholders (the ?Annual Meeting?), expected to take place in late-May 2016, when current
Chairman and Chief Executive Officer (CEO), Kase Lawal, has decided to retire as an officer
The Company also announced the appointment of its current Chief Operating Officer, Segun
Omidele, as CEO. Like Hofmeister, Omidele will assume the role following the Company?s
Annual Meeting in May, starting an orderly leadership transition over the next three months.
Commenting, Lawal said: ?This is an exciting time for Erin Energy. The board of directors has
identified two outstanding individuals to take the Company to the next level. Both John and
Segun are intimately familiar with our business, each has a diverse set of skills, and a combined
wealth of experience in the energy sector. I look forward to working with Segun, the board and
the management team during this transition period.?
Lawal continued, ?As part of our ongoing strategy, the roles of Chairman and CEO are to be
separated as we continue applying global standards to our corporate governance and ensuring
complete independence of the board. I am very excited about the future growth potential of the
company and will be available to the board in an advisory capacity.?
Hofmeister, as President of Shell Oil Company, led the company?s US Country Coordination
Team of Businesses/Functions of the Shell Group in the US. He initiated and managed the
portfolio, profitability, people and reputation objectives of US businesses on behalf of Shell Chief
Executive, Board of Directors and shareholders and represented the interests of Shell Group to
US stakeholders, including investors, government, communities and the general public.
Hofmeister has also held key executive leadership positions at General Electric, Nortel, and
Allied Signal (now Honeywell International) and currently serves on the boards of Hunting, plc
and Applus Services SA. He is also a member of the National Petroleum Council in Washington,
Omidele a 36-year exploration and production professional has been with the Company since
2011. He also served as Senior Vice President for Exploration and Production for Allied Energy
Corporation from 2008 to 2011. Prior to Allied Energy, Omidele held various senior technical
and management positions with Shell Oil companies in Nigeria, UK and USA for more than 28
years. He holds a Master?s degree in Petroleum Engineering from the University of Houston and
he is a graduate of the Advanced Management Program from Harvard University.
About Erin Energy
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 40,000 square kilometers (10 million acres), including
current production and other exploration projects offshore Nigeria, as well as exploration
licenses offshore Ghana, Kenya and 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.
Source: Erin Energy Corporation
Director, Investor Relations and Corporate Communications
+1 713 797 2960
Chris du Toit, +27 11 593 7301
14 March 2016
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 14/03/2016 01:45:00 Supplied by www.sharenet.co.za
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