Wrap Text
Board appoints new chief financial officer
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
ISIN: US1317452001
(“Erin Energy” or “the Company”)
Erin Energy Announces Key Management Change
Board Appoints New Chief Financial Officer
HOUSTON, May 6, 2015 – Erin Energy Corporation (“Erin Energy” or the “Company”) (NYSE
MKT:ERN) (JSE: ERN) announced today that Christopher J. Hearne will be appointed as Senior
Vice President and CFO beginning June 1, 2015. Earl McNiel, the Company’s current CFO, will
resign to pursue other interests effective May 31, 2015.
Mr. Hearne, 49, will join the Company from Serica Energy Plc, a publicly traded independent
exploration and production company listed on the Alternative Investment Market in London
(“AIM”), where he has served as CFO and member of the Board since 2005. Serica’s oil and
gas assets are currently located in the UK’s North Sea, East Irish Sea and Atlantic margin and
in Morocco and Namibia. At Serica, Mr. Hearne was initially tasked with preparing Serica for its
successful initial public offering in London. Mr. Hearne contributed to Serica’s rapid growth to a
company with a significant portfolio of assets in eight countries and successfully raised financing
through capital markets and commercial lending transactions, asset sales and farmouts.
Prior to joining Serica in 2005, Mr. Hearne was responsible for corporate finance at Intrepid
Energy Plc from 1996 through 2004, where he contributed to the company’s growth from start-
up to its sale for over US$1 billion. Prior to Intrepid, Mr. Hearne worked as an investment
banker with Lehman Brothers International and Robert Fleming & Co.
Mr. McNiel has agreed to remain as a consultant to the Company to assist with the transition of
duties to Mr. Hearne. Mr. McNiel’s departure is not related to any issues regarding financial
disclosures, accounting or legal matters.
Kase Lawal, Chairman and CEO of Erin Energy commented: “We appreciate Earl’s hard work
and his contributions to our efforts, and we wish him all the best in his future endeavors. We
are excited to bring Chris on board and welcome him to the team. With his wealth of experience
in corporate finance and capital markets in North America and the UK, we believe he will be a
great addition to our company.”
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 43,000 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
Investors:
Chris du Toit, +27 11 593 7301
chris.dutoit@erinenergy.com
Media:
Lionel McBee, +1 713 797 2960
lionel.mcbee@erinenergy.com
6 May 2015
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
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