Erin Energy Announces Key Management Change
May 06 2015 - 8:00AM
Business Wire
Board Appoints New Chief Financial
Officer
Erin Energy Corporation (“Erin Energy” or the “Company”) (NYSE
MKT:ERN) announced today that Christopher J. Hearne will be
appointed as Senior Vice President and CFO beginning June 1, 2015.
Earl McNiel, the Company’s current CFO, will resign to pursue other
interests effective May 31, 2015.
Mr. Hearne, 49, will join the Company from Serica Energy Plc, a
publicly traded independent exploration and production company
listed on the Alternative Investment Market in London (“AIM”),
where he has served as CFO and member of the Board since 2005.
Serica’s oil and gas assets are currently located in the UK’s North
Sea, East Irish Sea and Atlantic margin and in Morocco and Namibia.
At Serica, Mr. Hearne was initially tasked with preparing Serica
for its successful initial public offering in London. Mr. Hearne
contributed to Serica’s rapid growth to a company with a
significant portfolio of assets in eight countries and successfully
raised financing through capital markets and commercial lending
transactions, asset sales and farmouts.
Prior to joining Serica in 2005, Mr. Hearne was responsible for
corporate finance at Intrepid Energy Plc from 1996 through 2004,
where he contributed to the company’s growth from start-up to its
sale for over US$1 billion. Prior to Intrepid, Mr. Hearne worked as
an investment banker with Lehman Brothers International and Robert
Fleming & Co.
Mr. McNiel has agreed to remain as a consultant to the Company
to assist with the transition of duties to Mr. Hearne. Mr. McNiel’s
departure is not related to any issues regarding financial
disclosures, accounting or legal matters.
Kase Lawal, Chairman and CEO of Erin Energy commented: “We
appreciate Earl’s hard work and his contributions to our efforts,
and we wish him all the best in his future endeavors. We are
excited to bring Chris on board and welcome him to the team. With
his wealth of experience in corporate finance and capital markets
in North America and the UK, we believe he will be a great addition
to our company.”
About Erin Energy
Erin Energy Corporation is an independent oil and gas
exploration and production company focused on energy resources in
sub-Saharan Africa. Its asset portfolio consists of 9 licenses
across 4 countries covering an area of 43,000 square kilometers (10
million acres), including current production and other exploration
projects offshore Nigeria, as well as exploration licenses offshore
Ghana, Kenya and Gambia, and onshore Kenya. Erin Energy is
headquartered in Houston, Texas, and is listed on the New York and
Johannesburg Stock Exchanges under the ticker symbol ERN.
Source: Erin Energy Corporation
Erin Energy CorporationInvestors:Chris Heath, +1
713-797-2945chris.heath@erinenergy.comMedia:Lionel McBee, +1
713-797-2960lionel.mcbee@erinenergy.com
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