ERN
  • NYSE
  • JSE

Erin Energy Announces Audit Opinion

March 23, 2017

HOUSTON--(BUSINESS WIRE)-- Erin Energy Corporation (“Erin Energy” or the “Company”) (NYSE MKT:ERN) (JSE:ERN) today announced as previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2016, which was filed on March 16, 2017 contained an unqualified audit opinion from its independent registered public accounting firm that included an explanatory paragraph related to the Company’s ability to continue as a going concern. This announcement does not represent any change or amendment to the Company’s consolidated financial statements or to its Annual Report on Form 10-K for the fiscal year ended December 31, 2016.

This announcement is made pursuant to NYSE MKT Company Guide, Section 610(b), which requires separate disclosure of receipt of an audit opinion containing a going concern qualification.

A copy of the Annual Report on Form 10-K is available to be viewed or downloaded within the Investors section of the Company’s website at www.erinenergy.com. A hardcopy of its complete audited financial statements can also be obtained free of charge by contacting Erin Energy’s Investor Relations department.

Erin Energy Corporation is an independent oil and gas exploration and production company focused on energy resources in sub-Saharan Africa. Its asset portfolio consists of 7 licenses across 4 countries covering an area of 19,000 square kilometres (~5 million acres), including current production and other exploration projects offshore Nigeria, as well as exploration licenses offshore Ghana and The Gambia, and onshore Kenya. Erin Energy is headquartered in Houston, Texas, and is listed on the New York and Johannesburg Stock Exchanges under the ticker symbol ERN.

For more information about Erin Energy or to request a hard copy of the Company’s most recent complete audited financial statements free of charge, please call +1 713 797 2940 or visit www.erinenergy.com.

Source: Erin Energy Corporation

Erin Energy Corporation

Lionel McBee, 1 713-797-2960

Director, Investor Relations and Corporate Communications

lionel.mcbee@erinenergy.com

Contact Us

HEADQUARTERS

Houston, Texas | USA
Tel +1 713 797 2940

Lagos, Nigeria | Africa
Tel +234 1 4603357

Nairobi, Kenya | Africa
Tel +254 205 230 062

Banjul, Gambia | Africa
Tel +220 890 7080

Accra, Ghana | Africa
Tel +233 570 688 372

Investor Relations Contacts

Media Contact

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.

Acknowledge Exit