Erin Energy Corp ERINQ

Energy Oil & Gas E&P

Erin Energy Corporation is an independent oil and gas exploration and production company. The Company is focused on energy resources in Africa. It is focused on exploration for and production of hydrocarbons where commercial reserves have been found and developed. As of December 31, 2016, the Company's asset portfolio consisted of seven licenses across four countries covering an area of approximately five million acres (approximately 19,000 square kilometers). The Company's geographical segments include Nigeria, Kenya, The Gambia and Ghana. The Company owns producing properties and conducts exploration activities offshore Nigeria, conducts exploration activities offshore Ghana and The Gambia, and onshore Kenya. The Company has 100% interest in Oil Mining Leases 120 and 121; four Production Sharing Contracts in the Lamu Basin of Kenya; two exploration licenses offshore The Gambia, and interest in Expanded Shallow Water Tano (ESWT) block offshore Ghana.

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Erin Energy Corp

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Post by radcaton Aug 03, 2017 4:51pm

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Post# 26545068

Nice Close

This stock can be a wild ride. It has a history of really big moves in either direction with just a few minutes before the close. This has occured many times ove the years I have held my shares. Unless there is a problem with drilling, oyo-9 will very likely be a success. We already know the resource is there so its the technical factors that are the risk. Should ERN bring on oyo-9 (7,000), and restart oyo-7 (2,000 bopd), then drill two wells in the miocene, I strongly believe this stock can go materially higher. Farming out our Gambia blocks A2 & A5 to FAR who is rumoured to be in talks with Sinopec could make shareholders who got in early heaps of money. If ERN isn't for you, you should at the very least keep an eye on it as the company goes after some of the worlds best petroleum opportunities. If you're in, good luck. If not, wish me luck.

Note: All of my shares wee purchased with Mart Resources dividend money. so for me MMT lives on. Hopefully this outcome will be better though, sigh!