ERIN ENERGY CORPORATION - Erin Energy Announces the Spud of Oyo-NW Well Targets resources of more than one billion barrels

Erin Energy Announces the Spud of Oyo-NW Well
Targets resources of more than one billion barrels

Erin Energy Corporation
(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 the Spud of Oyo-NW Well
Targets resources of more than one billion barrels

HOUSTON--(BUSINESS WIRE)-- Erin Energy Corporation (“Erin Energy” or the “Company”) (NYSE
American:ERN) (JSE:ERN) today announced it has commenced drilling of the Oyo North West well
(Oyo-NW). Oyo-NW is a high-impact exploration well being drilled with the Pacific Bora, a sixth-
generation drilling rig, on the Company’s offshore Nigeria block 120. The well is expected to take
approximately 60 days to drill and log.

“We are extremely pleased to have commenced drilling of the Oyo North West Prospect,” said Femi
Ayoade, Chief Executive Officer. “Our team has worked hard to mature our extensive portfolio of
prospects and we look forward to positive results from this campaign. A discovery in the Miocene
formation would be a significant step forward in the evolution of our company.”

The Oyo-NW is one of Erin Energy’s multiple drill-ready Miocene prospects and will target mean
                               (1)
resources of 1.1 billion barrels. The Company’s offshore blocks 120 and 121 are located near many
of the region’s “super-fields” in the prolific-producing Niger Delta. Miocene and Pliocene sandstone
reservoirs are proven across the blocks and within the region, providing the reservoir with numerous
large-fields and discoveries. Detailed mapping of Erin Energy’s prospect portfolio is based on
interpretation of modern 3-D seismic data the Company has acquired on the blocks.

Erin Energy also stated that upon a successful discovery, given the close proximity to its current
floating production and offloading facilities located on the producing Oyo Field, the Company would
plan to eventually complete the well as a producer with production tie-back to the Oyo Field facilities.

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 5 licenses across 3
countries covering an area of 6,100 square kilometers (~1.5 million acres), including current
production and other exploration projects offshore Nigeria, as well as exploration licenses
offshore Ghana and The Gambia. Erin Energy is headquartered in Houston, Texas, and is listed on
the New York and Johannesburg Stock Exchanges under the ticker symbol ERN.
For more information about Erin Energy or to request a hard copy of the Company’s most recent
complete audited financial statements free of charge, please call +1 713 797 2940 or
visit www.erinenergy.com.




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Source: Erin Energy Corporation

Lionel McBee,
1 713-797-2960
Director, Investor Relations and Corporate Communications
lionel.mcbee@erinenergy.com

Houston
6 December 2017

Sponsor: Sasfin Capital (a member of the Sasfin group)

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