HOUSTON–(BUSINESS WIRE)–Erin Energy Corporation and certain of its subsidiaries (together “Erin Energy” or the “Company”) (NYSE American:ERN) (JSE:ERN), today announced that it received notification from the New York Stock Exchange (NYSE) that the NYSE has commenced proceedings to delist the Company’s common stock as a result of the Company filing voluntary petitions under Chapter 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division on April 25, 2018. The NYSE suspended trading in the Company’s common stock effective April 26, 2018.
The NYSE stated that it will apply to the Securities and Exchange Commission (SEC) to delist the Company’s common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE’s determination. The Company intends to appeal the delisting determination.
The Company anticipates that its common stock will begin trading on the OTC on April 27, 2018, under the ticker symbol ERINQ.
Erin Energy Corporation
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 5 licenses across 3 countries covering an area of 6,100 square kilometers (~1.5 million acres), including current production and other exploration projects offshore Nigeria, as well as exploration licenses offshore Ghana and The Gambia. Erin Energy is headquartered in Houston, Texas, and is listed on the New York and Johannesburg Stock Exchanges under the ticker symbol ERN.