Restructuring information

Erin Energy and certain of its subsidiaries commenced chapter 11 bankruptcy proceedings on April 25, 2018. Chapter 11 is the section of the U.S. Bankruptcy Code that covers court-supervised restructurings of businesses.

Like many companies, Erin Energy has been impacted by the downturn in the oil and gas industry and certain aspects of its operations. Erin Energy will be utilizing the U.S. Bankruptcy process to maximize recoveries for our creditors and other stakeholders. Erin Energy will continue all court approved day-to-day operations throughout this process.

Information and resources

Press releases

8-K

Case information: Erin Energy filed in the United States Bankruptcy Court for the Southern District of Texas, Houston Division. The case number is: 18-32106.

Information line: If you have any questions about this process, please email IR@erinenergy.com

Prospective and Contingent Resource Disclaimer

This Competent Person’s Report contains estimates of "prospective resources" and "contingent resources." The Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only “reserves,” as that term is defined under SEC rules.

Prospective resources are those quantities of petroleum estimated, as at a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Contingent resources are those quantities of petroleum estimated, at a given date, to be potentially recoverable from known accumulations, but the applied projects are not yet considered mature enough for commercial development due to one or more contingencies.

Prospective resources have both an associated chance of discovery and a chance of development, while contingent resources have an associated chance of development. Investors should not assume there will be any discovery associated with prospective resources, or that any discovery or any contingent resources will be economically drillable or ever be upgraded into reserves.

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