Erin Energy announces the arrival of rig to Oyo Field
Expected to Double Erin’s Production
AA – Erin Energy Corporation (Erin Energy or the Company) (NYSE MKT:ERN) (JSE:ERN) announced today the arrival of the Pacific Bora drilling rig to the Oyo field offshore Nigeria. Erin Energy plans to use Pacific Bora to drill the Oyo-9 well (Oyo-9) on the Oyo field in deepwater offshore Nigeria. The Company expects to commence drilling of Oyo-9 in approximately 10 days and the well to add an additional 6,000 to 7,000 barrels per day.
The Pacific Bora is a highly efficient sixth generation double-hulled drillship, which the Company has the option to drill up to two additional wells. If exercised, the rig will be used to drill two of its offshore Nigeria exploration prospects in the prolific Miocene geological zone, which has been proven highly prolific in neighboring blocks.
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