Erin Energy Corporation (Erin Energy or the Company) (NYSE MKT:ERN) (JSE:ERN) announced today the arrival of the Pacific Bora drilling rig to the Oyo field offshore Nigeria. Erin Energy plans to use Pacific Bora to drill the Oyo-9 well (Oyo-9) on the Oyo field in deepwater offshore Nigeria. The Company expects to commence drilling of Oyo-9 in approximately 10 days and the well to add an additional 6,000 to 7,000 barrels per day.
The Pacific Bora is a highly efficient sixth generation double-hulled drillship, which the Company has the option to drill up to two additional wells. If exercised, the rig will be used to drill two of its offshore Nigeria exploration prospects in the prolific Miocene geological zone, which has been proven highly prolific in neighboring blocks.
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, Kenya and 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. More information about Erin Energy can be found at www.erinenergy.com.