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Overview

Since its beginning in 2010, Erin Energy has acquired a strategic portfolio of oil and gas assets in sub-Saharan Africa. The Company’s portfolio consists of nine licenses in four countries and covers an area of approximately ~10 million acres (40,000 square kilometers). With current production offshore Nigeria, Erin conducts offshore development and exploration activities as operator in Nigeria and conducts exploration activities as operator offshore Gambia and Ghana as well as onshore and offshore exploration activities in Kenya.

NIGERIA

120/121

Erin Energy has a 100% interest in Oil Mining Leases 120 and 121 located offshore Nigeria.

The OML 120 contains the Oyo Field which is located approximately 75 km (46 miles) from the coast in water depths ranging from 200 to 500 meters. The Oyo Field commenced production in December 2009 and the wells are connected to the Armada Perdana FPSO, a Floating Production, Storage, and Offloading vessel.

The FPSO has a capacity of 40,000 barrels of oil per day (bbls/d), with gas treatment and re-injection facilities, and can store up to 1.1 million barrels of crude oil. The associated gas is re-injected into the Oyo Field reservoir to maximize oil recovery.

The Geoscience and Engineering Team recently identified several geologic prospects beneath current production and in the surrounding area on the blocks.

KENYA

L27/L28 and L1B/L16

Kenya has transitioned from a frontier exploration province to an emerging oil province when Tullow Oil announced that they had struck oil with their Ngamia - 1 well in March 2012. By May 2012, Erin was awarded 4 Production Sharing Contracts in the Lamu Basin of Kenya for a combined acreage of 36,913 km2. Block L1B is onshore, block L16 is along the coast and is partly onshore and partly offshore in shallow water. Blocks L27 and L28 are located offshore in the ultradeep water of the Indian Ocean.

Erin recently concluded acquiring 2D seismic data in all 4 blocks. The Geoscience and Engineering Team has identified several very exciting leads in the area that are analogous to hydrocarbon discoveries in the greater East African area. The Company is continuing to evaluate the leads and is working on getting partners to spread the risk and maximize investment value.

GAMBIA

A2/A5

Since 2012, Erin Energy has had interest in two exploration licenses offshore The Gambia. The two licenses have a combined surface area of 2,682 km2 in water depths of 50-1,200 meters.

The license blocks are located in The Gambia’s offshore Casamance-Bissau sub-basin that forms the southern part of the greater Senegal Basin, which has been the focus of intense industry leasing and exploration drilling activities in recent years. The area emerged recently from frontier basin status due to two consecutive oil discoveries on the adjacent block in Senegal waters. These wells have proven petroleum systems associated with Cretaceous basin floor fans and shelf edge to slope clastic deposits which are on trend to the company’s blocks. Similar plays have been successfully tested along the West Africa margin, with some already in development or production.

A fresh interpretation of West Africa's petroleum geology came in 2007 after the Kosmos Energy Jubilee discovery offshore Ghana, and more recently Anadarko's discovery of hydrocarbons in the first deepwater well drilled offshore Sierra Leone. The discoveries raise the prospect of a new oil province in the West Africa transform margin, an area between two tectonic plates, stretching from eastern Ghana, Côte d'Ivoire, Liberia and Sierra Leone. Offshore Gambia has good prospectivity for hydrocarbons and the area marks the northern extent of the Casamance-Bissau sub-basin forming part of the Mauritania-Gambia-Guinea Bissau coastal basin which is characterised by halokinetic deformation and proven petroleum systems.

GHANA

Expanded Shallow Water Tano Block

Erin Energy was awarded the ESWT block and named operator with 30% working interest in 2014. The block has a combined surface area of 1,508 km2 and water depths of zero to about 200 meters.

The Tano Shallow comprises three legacy discovered fields (South Tano 1978; North Tano 1980 and West Tano 2000), which are located 15 to 35 km offshore in water depth between 55 and 116 meters. Given the present advancements in production technology and sub-surface interpretation the fields are currently under evaluation for economic viability for development.

The equatorial margin of Ghana has recently been proven a prolific basin with successful tests of the basin floor fan plays and up-dip connectivity via channel complexes and incised valleys throughout the Upper Cretaceous sequences. Our exploration efforts on Tano Shallow integrate these new concepts and the enhanced knowledge base with the goal to increase the hydrocarbon potential of the Tano Shallow block.

Contact Us

HEADQUARTERS

Houston, Texas | USA
Tel +1 713 797 2940

Johannesburg, South Africa │Africa
Tel +27 11 593 7300

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.

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