Africa Business Communities

[Sub-Saharan Africa] Erin Energy Added to Russell Indexes

Erin Energy Corporation (“Erin Energy” or the “Company”) (NYSE MKT:ERN) announced today that it has been added as a member of the broad-market Russell 3000 Index effective after the equity markets closed on June 26 as part of the 2015 Russell indexes reconstitution.

Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Chris Hearne, Senior Vice President and Chief Financial Officer of Erin Energy commented: “We are pleased to note our addition to the prestigious Russell Indexes and expect an enhanced profile and awareness for Erin Energy among a broader investor base.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $5.7 trillion in assets are benchmarked to the Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

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 kilometres (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. 

www.erinenergy.com

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