One-Page Deal Sheet
Erin Farms Out 80% Interest in Offshore Gambia Blocks
Far Limited Erin Energy Corp.
Announced Date
March 27,2017
Close Date
July 03,2017
Transaction Type
Working Interest
Enterprise Value (EV)($MM)
5
Asset/Basin:
{"Mauritania-Senegal-Guinea-Bissau (MSGBC) Basin"}
Transaction Details: Subscribe to see
[Summary : Erin Energy has entered into a farm-out agreement with FAR Ltd. where FAR will acquire an 80% interest and operatorship of Erin Energy’s offshore A2 and A5 blocks in The Gambia. Erin Energy will retain a 20% working interest in both blocks.]
Highlights: Erin Energy to farm-out 80% working interest in the Company’s highly-prospective offshore blocks A2 and A5 in The Gambia to FAR; FAR to fund Erin Energy through the first exploration well; Erin Energy’s blocks are adjacent and on-trend with FAR’s world-class SNE oil field offshore Senegal.Under the terms of the farm-out…
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