Erin Energy Corporation Who we are and what we do 9 Erin Energy Corporation is an independent oil and gas exploration and production company focused on energy resources in sub-Saharan Africa World-class assets in 4 African…
Global E&P Company with a Leading Sub-Saharan Africa Portfolio Well positioned to provide exceptional value for shareholders NIGERIA Offshore Acres Interest Partner Status OML 120 230,000 100% - Production OML 121 217,000 100% -…
Erin Energy Corporation Q2 Highlights Operational Tied in Oyo-7 and Oyo-8 wells Summary Net production of approximately 400,000 bbls of oil Significant progress made on the technical evaluation of ESWT block in Ghana Extended…
Nigeria Overview Block History & Commitment Erin Equity Block awarded in 1995 to Allied as OPL 210 Converted to OML 120 and 121 in 2002 10 successful wells drilled Sole Risk license under the indigenisation program Current…
Nigeria Production Performance Current Oyo Field Production Oyo-8 & Oyo-7 Net 13,100 bopd and 10 MMscf/d gas Short Term (24 month) Production Targets Short term plan of increasing production to 20,000 bopd by drilling…
Nigeria Oyo Field Future Development Opportunities Oyo Central West Main Oyo Phase II Expansion Q1 2016 Oyo-1, -4, -5, -7 & -8 Oyo-5 WI & Oyo-13 Oyo-5WI water injection well (Oyo Central West Main) Oyo-9 producing well (Oyo…
Nigeria Capital Expenditure Work Package (US million) Oyo 5 WI Oyo 9 Total Engineering & Project Management 150 200 350 Drilling & Completion 29,000 35,000 64,000 Subsea Production System 13,594 7,086 20,680 Flexible Flowline…
Technical Know-How Top-Class Technical and Operational Capacity Experienced Majority of senior staff are from Major IOCs with great networks Staff Pool International experience spanning all the continents Top 10 technical staff have…
Oyo Field Expansion Phase 1 Project Performance vs Original Oyo Development Average of 40% cost savings per well for D&C and SURF (i.e excluding FPSO) over initial project cost Average of 50% drilling and completion time savings over…
Maturing Drill-Ready Exploration Wells Nigeria OML 120/121 Prioritize high-value exploration portfolio Unlocking high-quality prospects OML 120 & 121 OML 120 & 121 High-grading the portfolio with the Portfolio of 22 prospects…
Ghana Update Block History & Commitment JOA signed Jan. 2015 Block with 3 discovered fields Initial work commitment Declare commerciality within 9 months Reprocess existing 3D seismic data Drill one well within 2 years Prospects…
Gambia Update Block History & Commitment Blocks awarded in 2012 for 4 years (Dec. 2016) Initial work commitment per block Regional geological survey Acquire, process, interpret 750 sq. km of 3D seismic data Drill one exploration…
Kenya Update Block History & Commitment 4 blocks awarded in 2012 Initial work commitment for L1B and L16 (2 years) Acquisition & interpretation of gravity & magnetic data Acquire, process and interpret 500 kilometres of 2D data…
Investment Highlights Our value creation model Production and Long-Term Frontier Revenue Growth Exploration Reserves and Sub-Saharan Resources Growth Africa Assets Near-Term High Opportunistic Impact Exploration…
Stock Price Performance ERN vs. Peers LTM 6-month change in the share prices LTM change in the share prices Energy Energy Erin Energy 73.3% Erin Energy 40.6% Erin Erin Eland 15.9% Kosmos (35.2% ) Cob alt (14.8% ) MPI…
Further Information Glossary and Reserve Classification bbl barrel(s) Boe Barrels oil equivalent Bopd Barrels oil per day MMBBL Million Barrels Oil US United States Dollar 2P Proved & Probable Reserves 3P Proved, Probable…
Contact us For more information: www.erinenergy.com NYSE MKT: ERN I JSE: ERN Main: +1-713-797-2940 Investor Relations: US: +1-713-797-2960 / SA: +27-11-593-7303 Media: +1-713-797-2960 Erin Energy Corporation Corporate…
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