Wrap Text
Completes 3D seismic acquisition
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 Completes 3D Seismic Acquisition Offshore The Gambia
HOUSTON, September 14, 2015 – Erin Energy Corporation (Erin Energy or the Company)
(NYSE MKT:ERN) announced today it has successfully completed acquisition of a new 3D
seismic survey off the coast of The Gambia. Polarcus Ltd. was contracted by the Company to
carry out the survey using the Polarcus Alima, an ultra-modern 12 streamer 3D/4D seismic
vessel. The survey covered approximately 1,613 square kilometres on Erin Energy’s A2 and A5
blocks.
The Company will now commence processing and interpretation of the data, with results
expected to be available during the second quarter of 2016.
Segun Omidele, Chief Operating Officer of Erin Energy, commented: “We are pleased to report
that the acquisition has been completed on time and within budget. We look forward to
receiving the processed seismic data, which will allow us to build upon our understanding of the
prolific plays in this emerging basin, and will assist our team in determining exploration activities
on the blocks. We would like to thank Polarcus and our contractors for their professional and
efficient work.”
Erin Energy is operator of the A2 and A5 blocks with 100% interest. The A2 and A5 blocks are
located approximately 28 miles (45 kilometers) offshore, The Gambia and are on-trend with the
recent FAN-1 and SNE-1 hydrocarbon discoveries offshore Senegal by Cairn (LSE:CNE),
Conoco (NYSE:COP), and FAR (ASX:FAR).
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.
Forward-Looking Statements
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
Contact:
Lionel McBee, +1 713 797 2960
lionel.mcbee@erinenergy.com
Chris du Toit, +27 11 593 7301
chris.dutoit@erinenergy.com
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
14 September 2015
Date: 14/09/2015 02:18:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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