HOUSTON--(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.
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.