Erin closing on Nigeria double drilling cash and hopeful on Gambia

摘要

Erin Energy said it is closing in on a US $100m loan that will allow it to start drilling off Nigeria within weeks and is hopeful of finding a new partner soon for its acreage off Gambia. The loan will be used for a new production well on the Oyo field in OML 120 while Erin is also hoping to attract another $30m to drill an exploration well. A rig has already been identified and the exploration well will be on Prospect G which is a 226m bbl target in the far west of the block near ExxonMobil's Erha field.