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May 2016 Meeting of Shareholders – Erin Energy Corp.

Erin Energy Corp. · May 25, 2016 · 9 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

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  1. May 2016 Meeting of Shareholders – Erin Energy Corp. – slide 1
    Annual Meeting of Shareholders May 25, 2016
  2. May 2016 Meeting of Shareholders – Erin Energy Corp. – slide 2
    Company at a Glance Diverse 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% -…
  3. May 2016 Meeting of Shareholders – Erin Energy Corp. – slide 3
    2015 Overview Positive results despite challenging economic climate Operational Oyo-7 and Oyo-8 wells tied in 1.6mmbbls oil net production 6,400bbls per day average production, following Oyo-7 and Oyo-8 tie-ins Ghana: significant…
  4. May 2016 Meeting of Shareholders – Erin Energy Corp. – slide 4
    Increasing Reserves Year-end 2015 proved reserves Increase due to better production performance from production wells Oyo-7 and Oyo-8 Transfer (net) due movement between P1 and P2 category Negative revision due to lower commodity…
  5. May 2016 Meeting of Shareholders – Erin Energy Corp. – slide 5
    Share Performance Erins share price performance relative to peers and Brent Crude Source: FactSet, 19-May-16 Peers Index include: Tullow (-68%), Ophir (-78%), Kosmos (-52%), Seplat (-49%), Cobalt (-76%), Erin (-71%) Annual…
  6. May 2016 Meeting of Shareholders – Erin Energy Corp. – slide 6
    Financial Performance Erins financial performance is expected to improve significantly with the introduction of its organic development plan Financial Snapshot 2014A 2015A 2016E 2017E 2018E 2019E Oil Price US/bbl 41.5 57.8 61.8…
  7. May 2016 Meeting of Shareholders – Erin Energy Corp. – slide 7
    Key Performance Catalysts (2016 Focus) Production expected 1Q 2017 7,000 BOPD tied back to existing infrastructure Oyo-9 No fixed operating cost (attached to Armada Perdana FPSO) Significantly reduces breakeven cost per barrel…
  8. May 2016 Meeting of Shareholders – Erin Energy Corp. – slide 8
    Value Creation Growth Strategy Significantly increase shareholder value by growing production and reserves Grow Existing Production Increase production from Oyo by drilling additional wells Explore near field opportunities and tie…
  9. May 2016 Meeting of Shareholders – Erin Energy Corp. – slide 9
    Strategic Corporate Goals Matrix of Erins strategic goals Nigeria Ghana Gambia Kenya / M&A / Other Explore portfolio options in Increase Production (12,000 Await resolution of boundary Kenya 16,000 BOPD) issue Complete…

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