Erin Energy Corp ERINQ

N/R Reviews

[radcat]

The first sign Energy Searcher wasn't up to snuff was the blow-out control prevention hoses leaked. Now this! Dr. Lawal better not have paid these dipsticks a large chunk of their contract since they are not capable of completing what they were hired to do in the first place. Baseball has pinch hitters, we have a pinch driller. It pays to go with the best of breed! Don't count on oyo-7 first oil by years end. Although CAMAC hasn't indicated this to us yet.

Highlights for the quarter ended September 30, 2014 include:

• Successfully drilled the Oyo-8 well and encountered four new oil and gas reservoirs
• Awarded a contract for the acquisition of 2D seismic surveys on Kenyan onshore blocks L1B and L16
• Secured a $100 million credit facility
• Fivefold increase in the P50 recoverable resources in four of its top exploration prospects offshore Nigeria

Nigeria

Oyo-8 was successfully drilled to a total depth of 6,059 feet, and encountered four new oil and gas reservoirs with a total gross hydrocarbon thickness of 112 feet, based on results from the logging-while-drilling data, reservoir pressure measurement, and reservoir fluid sampling. Both Oyo-7 and Oyo-8 have now been successfully drilled, the flowlines and other subsea equipment from Oyo-5 and Oyo-6 have been recovered, and successfully installed and tested on the Oyo-7 and Oyo-8 wells. The Energy Searcher drillship is currently plugging and abandoning Oyo-5 and Oyo-6, and will then drill the horizontals to complete Oyo-7 and Oyo-8. The Company expects to bring the first of these two development wells online by year-end, and the second in early 2015.

Read more at https://www.stockhouse.com/news/press-releases/2014/11/10/camac-energy-announces-third-quarter-2014-results#Rv3xZUQj3H0k4b1Q.99
HOUSTON, TX--(Marketwired - Sep 30, 2014) - CAMAC Energy Inc. ("CAMAC Energy" or the "Company") (: ) announced today that the suspended rig activities of the Energy Searcher drillship have now resumed, and the technical problem with the drillship's blow out preventer ("BOP") control hoses has now been resolved. New hoses have been installed, and the BOP is fully function tested.
Read more at https://www.stockhouse.com/news/press-releases/2014/09/30/camac-energy-provides-operational-update#PtlcOyTH1S3t70W6.99

[BlindBat_1]

Baseball has pinch hitters, we have a pinch driller. ========== LOL! Good one.....well ( pun intended) this is Nigeria anything can be expected.....at least we got good news on the other side of the coin!