Erin Energy Corporation Announces Common Stock Expected to Begin Trading on the OTC

April 27, 2018

HOUSTON--(BUSINESS WIRE)-- Erin Energy Corporation and certain of its subsidiaries (together “Erin Energy” or the “Company”) (NYSE American:ERN) (JSE:ERN), today announced that it received notification from the New York Stock Exchange (NYSE) that the NYSE has commenced proceedings to delist the Company’s common stock as a result of the Company filing voluntary petitions under Chapter 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division on April 25, 2018. The NYSE suspended trading in the Company’s common stock effective April 26, 2018.

The NYSE stated that it will apply to the Securities and Exchange Commission (SEC) to delist the Company’s common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE’s determination. The Company intends to appeal the delisting determination.

The Company anticipates that its common stock will begin trading on the OTC on April 27, 2018, under the ticker symbol ERINQ.

Erin Energy Corporation

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 5 licenses across 3 countries covering an area of 6,100 square kilometers (~1.5 million acres), including current production and other exploration projects offshore Nigeria, as well as exploration licenses offshore Ghana and The Gambia. 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.

Erin Energy Corporation
Lionel McBee, +1 713-797-2960
Director, Investor Relations
lionel.mcbee@erinenergy.com

Source: Erin Energy Corporation

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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