ERIN ENERGY CORPORATION - Notification of late filing of its Quarterly Report for the quarterly period ended March 31 2018

Release Date: 09/05/2018 08:57
Code(s): ERN
 
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Notification of late filing of its Quarterly Report  for the quarterly period ended March 31 2018

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”)


Notification of late filing of its Quarterly Report on Form 10-Q for the quarterly period ended March 31,
2018

On April 25, 2018 Erin Energy Corporation and certain of its subsidiaries (together “Erin Energy” or
the “Company”), filed voluntary petitions under Chapter 11 of the United States Code (the "Code") in
the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the "Court")
to pursue a plan of reorganization (the "Reorganization Plan").

Erin Energy and its subsidiaries will continue to operate under the jurisdiction of the Court and in
accordance with the applicable provisions of the Code and the orders of the Court. To ensure ordinary
operations, Erin Energy is seeking approval from the Court for a variety of motions, including authority
to maintain bank accounts and other customary relief. The Company is in the process of looking for a
source of debtor in possession financing to provide it with the necessary working capital to continue
its operations and move towards a successful Reorganization Plan.

As a result of the foregoing, the Company is unable to file its Quarterly Report on Form 10-Q for the
quarterly period ended March 31, 2018 (the “Quarterly Report”) within the prescribed time period
because the Company requires additional time to prepare and review certain information in its
financial statements. The delay could not be eliminated without unreasonable effort or expense.
Although the Company continues to work to conclude the preparation and review of the Form 10-Q
and plans to file the Form 10-Q as soon as practicable, the Company does not anticipate filing the
Form 10-Q within the five-day period provided by Rule 12b-25 under the Securities Exchange Act of
1934, as amended.

Houston
9 May 2018

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

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