ERIN ENERGY CORPORATION - Erin Energy announces Petronas Farm-In

Erin Energy announces Petronas Farm-In

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 Petronas Farm-In

PETRONAS TO FARM-IN TO GAMBIAN BLOCKS A2 AND A5

HOUSTON--(BUSINESS WIRE)-- Erin Energy Corporation (“Erin Energy” or the “Company”) (NYSE
American:ERN) (JSE:ERN) today refers to the news release of its joint venture partner, FAR
Limited (FAR), dated February 26, 2018 reporting that a subsidiary of Petroliam Nasional Berhad
(PETRONAS) has signed a Farm-out Agreement (FOA) with FAR.

The FOA, expected to be completed March 31, 2018, assigns a 40% interest in the A2 and A5
offshore blocks in The Gambia to PETRONAS with FAR retaining operatorship and a 40% interest in
each block. Erin Energy has a 20% interest in blocks A2 and A5 following its farm-out to FAR in 2017.

As part of the FOA, PETRONAS will fund 80% of the joint venture’s Samo-1 well up to a US$45
million cap. The well is expected to be drilled in late-2018 and will be the first exploration well offshore
The Gambia since 1979. FAR has previously announced that it estimates the Samo Prospect to
                                                                                               (1)
contain prospective resources of 825 million barrels oil (best estimate, 100% basis, unrisked).

For more information on the FOA, please see FAR’s news announcement
at: http://far.live.irmau.com/irm/PDF/2364_0/PETRONASjoinsFARtodrilloffshoreTheGambia

For more information on PETRONAS, please visit www.petronas.com.my

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.

(1)PROSPECTIVE RESOURCE ESTIMATES CAUTIONARY STATEMENT
With respect to the Prospective Resource estimates contained within this report, it should be noted
that the estimated quantities of Petroleum that may potentially be recovered by the future application
of a development project may relate to undiscovered accumulations. These estimates have an
associated risk of discovery and risk of development. Further exploration and appraisal is required to
determine the existence of a significant quantity of potentially moveable hydrocarbons. The
Prospective Resource estimates provided in this report are Low Estimate, Best Estimate and High
Estimate and represent that there is a 90%, 50% and 10% probability respectively that the actual
resource volume will be in excess of the amounts reported.

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.




View source version on
businesswire.com: http://www.businesswire.com/news/home/20180227005861/en/

Source: Erin Energy Corporation

Erin Energy Corporation
Lionel McBee, 1 713-797-2960
Director, Investor Relations


lionel.mcbee@erinenergy.com

Houston
27 February 2018


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

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