Erin Energy: To spud Oyo-9 well offshore Nigeria – expects to double Oyo field production

Erin Energy Corporation provided an update today on its drilling operations that are expected to double production for the Company and also updated its plans for drilling one of its prime exploration prospects.

Erin Energy has finalized its plan to spud Oyo-9 by end of July and has sent a notification to the rig contractor, Pacific Drilling, to this effect. The rig contractor has in turn assured Erin of their readiness to mobilize their sixth generation rig, Pacific Bora by the end of July.

Oyo-9 is expected to increase Oyo field production by six to seven thousand barrels of oil per day, which alone will double the current production of the Company. Coincidental with the completion of Oyo-9, the Company will also tie back in to its FPSO the Oyo-7 well which could add an additional approximately 2,000 barrels of oil per day (BOPD).

The Company is also discussing a possible extension to the contract with Pacific Drilling, depending on availability of funds, to drill one or two wells in the prolific Miocene geological zone located in OML 120.

Erin continues to produce over 6,200 BOPD from its Oyo 8 well.

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