Erin Energy CEO Resigns

Erin Energy Corporation has announced that Segun Omidele has resigned as Chief Executive Officer and as a member of the Board, effective February 22, 2017. Mr. Omidele’s resignation was accepted by the Board of Directors, with his departure from the company expected in the coming weeks while he assists in the orderly transition of his duties and responsibilities to the Interim Chief Executive Officer.

Effective February 22, 2017, Jean-Michel Malek, Senior Vice President, General Counsel, and Secretary, will serve as Interim Chief Executive Officer, while the Board conducts a search for a permanent replacement.

John Hofmeister, Chairman of the Board, commented: “On behalf of the Board of Directors of Erin Energy, I thank Segun for his service to the Company. Segun’s leadership and knowledge of the business and region have proved exceptionally valuable to our company. The Board is satisfied that all major projects and initiatives are well in hand and proceeding as planned.”

Mr. Omidele served in various positions with the Company commencing in September 2011 and was Chief Operating Officer from September 2015 until his appointment as CEO in May 2016.

Mr. Malek, 60, has served as Senior Vice President, General Counsel and Secretary of the Company since November 2015. Prior to joining Erin Energy, he was with CAMAC International Corporation (CI), where he served as Executive Vice President and General Counsel since January 2011 and prior to that as Senior Vice President and General Counsel since January 2007. He also served as the General Counsel of CI from 1992 to 2003. In this role, he was responsible for all aspects of CI’s legal affairs around the world.

Prior to joining CI, Mr. Malek was engaged in private practice with law firms in Houston and also held various positions as in-house counsel with multinational companies. He has also been an Adjunct Professor at the University of Houston Law Center, where he taught a course on law and development in Africa. Mr. Malek holds a J.D. from the University Of Texas School Of Law and has a bachelor’s degree in philosophy from the University of Texas at Austin. From 2007 until 2012, he served as Honorary Consul of Namibia for the State of Texas.

Erin Energy asset portfolio consists of 9 licenses across 4 countries covering an area of 40,000 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.