Erin Energy Breakout Notes
Frank C. Ingriselli, chairman of the board of Erin Energy Corp., (ticker: ERN) presented today at EnerCom’s The Oil & Gas Conference® 22.
Erin Energy Corp., which was initially known as CAMAC Energy Inc., is an oil and gas production company with assets in sub-Saharan Africa, in four countries. The company has operations in offshore Nigeria—where it is producing—and exploration in offshore Gambia and Ghana. The company is also undergoing exploration in onshore Kenya.
During the company’s breakout session, management was asked the following questions:
- Can you describe the general finding and development (F&D) costs?
- Can you give me an idea of your production/OPEX costs?
- Can you shed more light on your debt restructuring strategy?
- In terms of the oil NW, can you revisit of the Estimated Ultimate Recoveries (EURs) within the region
- What are the drilling risk in the area? Any risk of drilling a dry hole?
- Having a 35% porosity within the reservoir, what are the typical oil saturations experienced?
- Are there any background information on the core description of the reservoir at your current producer?
- What is the API of the oil? With the assumption of the fluid being a black oil, will you put the Gas-Oil-Ratio (GOR) at 700,000 – 800,000?
- Is there any appetite for convertibly deferred offers feeding into the required $40 million loan?
- Will your company entertain loan percentages offered from interested investors?
Erin Energy presented at EnerCom’s 2017 The Oil & Gas Conference®.
You can listen to the company’s presentation by clicking here.
