Erin Energy Responds to Inaccurate Media Reports Regarding Oyo Field Operations
14 Mars 2018 - 10:45PM
Business Wire
Erin Energy Corporation (“Erin Energy” or the “Company”) (NYSE
American:ERN) (JSE:ERN) today responded to recent media reports
regarding its Oyo field operations, calling the articles
inaccurate.
Most of the articles’ content, which appeared in print and
online, contained nearly identical text, indicating it was likely
sourced from an unidentified third party. The articles erroneously
contended that a Nigerian court had ordered the “take over” of the
Oyo oil field.
In fact, a party attempted to enforce a writ against certain
Erin Energy equipment. The writ in question was based on a court
order pertaining to parties unrelated to Erin Energy, and a
Nigerian court has subsequently ruled that actions taken to enforce
the writ against Erin Energy were an abuse of legal process.
“We take seriously these inaccuracies floating around, and
caution those behind these stories, and their agents, from
misleading members of the public in the future,” said Femi Ayoade,
Chief Executive Officer.
About Erin Energy
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.
Forward-Looking Statements
This news release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements,
other than statements of historical fact, concerning activities,
events or developments that the Company expects, believes or
anticipates will or may occur in the future are forward-looking
statements. Although the Company believes the expectations
reflected in these forward-looking statements are reasonable, they
involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect.
The Company’s actual results could differ materially from those
anticipated or implied in these forward-looking statements due to a
variety of factors, including the Company’s ability to successfully
finance, drill, produce and/or develop the wells and prospects
identified in this release, and risks and other risk factors
discussed in the Company’s periodic reports filed with the
Securities and Exchange Commission. All forward-looking statements
are expressly qualified in their entirety by this cautionary
statement. You should not place undue reliance on forward-looking
statements, which speak only as of their respective dates. The
Company undertakes no duty to update these forward-looking
statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20180314006128/en/
Erin Energy CorporationLionel McBee, +1 713-797-2960Director,
Investor Relationslionel.mcbee@erinenergy.com
Erin Energy (CE) (USOTC:ERINQ)
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