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.

GREY:ERINQ - Post by User

Erin Energy Corp > If.....

<< Previous

Bullboard Posts

Next >>

Post by BlindBat_1on May 18, 2015 7:57pm

114 Views

Post# 23739331

If.....

Erin Energy Announces Production Rate from the Oyo Field
Ticker Symbol: U:ERN X:JSE:ERN

HOUSTON -- (Business Wire) --

Erin Energy Corporation (Erin Energy or the Company) (NYSE MKT:ERN) announced today that the Oyo-8 well (Oyo-8) located in OML 120 offshore Nigeria has exceeded expectations and is currently producing at a stabilized rate of 7,080 barrels of oil per day. Erin Energy is the operator and has a 100% interest in the well.

Erin Energy is currently engaged in drilling and completion operations on the Oyo-7 development well and expects to achieve first oil production from the well in a few weeks.

Additionally, in preparation for the planned drilling of one of its Miocene exploration prospects later this year, the Company has completed site survey of three of its top prospect drilling locations. Erin Energy announced last year that it had identified, and high-graded to drill-ready status, four Miocene exploration prospects. The four prospects have a combined 2.4 billion barrels of recoverable P50 prospective resources.

Segun Omidele, Senior Vice-President of Exploration and Production commented: We are pleased with the Oyo-8 wells performance and delighted that well parameters are stable. We plan to continue this very cautious well management approach and expect to bring Oyo-7 on production in a similar manner. We are advancing both our development and exploration work offshore Nigeria and look forward to an exciting second half of 2015.

---------------------

If these guys ever comsinder hiring a Ukranian of Russian descent....with a last name sounding like "whenko".

I swear i will hire and pay for the hitman !

-------------

How refreshing,solid and credible series of event can you get ....from operating in NIgeria...let alone events out of your control from services Org or Suppliers and yet maintain direction and deliver , late, but yet deliver !

Bravo Khamal, tip of the hat to you and the entire Team.........very refreshing outcome which I suspsect you already know why such a comment. Glad to own and will be adding!

PS: Radcat, I hear hanging someone by the balls is legal in the UK.....what is not alloweed is to let him choke given the pain.....working on finding the right outfit to perform the task and making it last!

Cheers....