Sub-Sahara Africa focused oil and gas exploration company Erin Energy Corporation\u00a0 has appointed Christopher J. Hearne\u00a0as Senior Vice President and CFO beginning\u00a0June 1, 2015.\u00a0Earl McNiel\u00a0, the Company\u2019s current CFO, will resign to pursue other interests effective\u00a0May 31, 2015.<\/p>\n
Mr. Hearne, 49, will join the Company from\u00a0Serica Energy Plc, a publicly traded independent exploration and production company listed on the Alternative Investment Market in\u00a0London\u00a0where he has served as CFO and member of the Board since 2005.<\/p>\n
Serica\u2019s oil and gas assets are currently located in the UK\u2019s\u00a0North Sea,\u00a0East Irish Sea\u00a0and Atlantic margin and in\u00a0Morocco\u00a0and\u00a0Namibia. At Serica, Mr. Hearne was initially tasked with preparing Serica for its successful initial public offering in\u00a0London. Mr. Hearne contributed to Serica\u2019s 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.<\/p>\n
Prior to joining Serica in 2005, Mr. Hearne was responsible for corporate finance at\u00a0Intrepid Energy Plc\u00a0from 1996 through 2004, where he contributed to the company\u2019s growth from start-up to its sale for over\u00a0US$1 billion.<\/p>\n
Prior to Intrepid, Mr. Hearne worked as an investment banker with\u00a0Lehman Brothers International\u00a0and\u00a0Robert Fleming & Co.<\/p>\n
Former CFO McNiel has agreed to remain as a consultant to the Company to assist with the transition of duties to Mr. Hearne. Mr. McNiel\u2019s departure is not related to any issues regarding financial disclosures, accounting or legal matters.<\/p>\n
\u201cWe appreciate Earl\u2019s 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\u00a0North America\u00a0and the\u00a0UK, we believe he will be a great addition to our company,\u201d Kase Lawal\u00a0, commented Chairman and CEO of\u00a0Erin Energy.<\/p>\n
In Kenya the company holds various licences and the single largest acreage by any single explorer. Erin was awarded 4 Production Sharing Contracts in the Lamu Basin of Kenya for a combined acreage of 36,913 km2. Block L1B is onshore, block L16 is along the coast and is partly onshore and partly offshore in shallow water. Blocks L27 and L28 are located offshore in the ultradeep water of the Indian Ocean.<\/p>\n","protected":false},"excerpt":{"rendered":"