OREANDA-NEWS. Erin Energy Corporation announced today financial and operational results for the quarter ended June 30, 2015. The Company has filed its Form 10-Q for the second quarter 2015 with theSecurities and Exchange Commission.

"Erin Energy continued to build momentum during the second quarter," said Kase Lawal, Chairman and Chief Executive Officer. "Bringing the Oyo-7 and Oyo-8 wells on production were significant milestones in your company's history. During the quarter, we delivered production in excess of 450,000 barrels of oil once the Oyo field was brought online. Growth is at the center of Erin Energy and this achievement is just the beginning for us."

During the quarter, the Company commenced production of Oyo-7 and Oyo-8 wells offshore Nigeria. As of August 1, 2015, the combined production rate of Oyo-7 and Oyo-8 wells was approximately 13,100 barrels of oil per day (BOPD) (~11,500 BOPD net to the Company). The Company continues to operate the wells by employing good reservoir management techniques and the wells have outperformed Erin Energy's pre-drill projections for the period.

The Company was granted an extension to the initial exploration period for the A2 and A5 blocks in The Gambia during the quarter, and subsequently commenced a 1,500 square kilometre 3D seismic data acquisition over the blocks, which is expected to be completed inSeptember 2015 and is a key step in high-grading the asset.

In June, based on the 2D seismic interpretation and in accordance with the provisions of the PSC, Erin Energy met with the Kenyan government and submitted the required applications to enter the First Additional Exploration Period (FAEP) of both onshore blocks L1B and L16. The Company expects the FAEP on both blocks will be granted during the third quarter 2015.

Additionally, Erin Energy has applied for a two-year extension of the Initial Exploration Period for the offshore Kenya blocks L27 and L28 in order to seek a farm-in partner and to acquire 3D seismic data.

In Ghana, significant progress was made on the technical evaluation of the three previously discovered oil fields on the Expanded Shallow Water Tano block. The Company has now commenced the economic evaluation of the resource volumes in place and expects to complete the economic modelling and engage with the joint venture partners by September 2015. Additionally, Erin Energy's technical team continues the maturation process on several identified prospects on the block.