Petroleum Africa
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Monday, April 27, 2015
CAMAC Energy has launched a reverse stock split of its common stock pursuant to which each six shares of common stock will be converted into one share of common stock. The reverse stock split was effective April 22.
At the same time as the reverse stock split, the company instituted a name change. The company will change its name to Erin Energy Corp. and trade under the symbol ERN on both the NYSE and the JSE stock exchanges.
KaseLawal ,chairman and CEO commented: “These important actions together with our impending production from the Oyo field are the next phase of our company’s transformation into a focused, world-class, international exploration and development company.We are a fundamentally different company than we were a few years ago, and our rebranded company represents the transformation our organization has undergone over time.As we anticipate production tie-in from the Oyo-8 and Oyo-7 wells, it is with great excitement that we look to the future and the significant growth potential of Erin Energy.”
The new company website will be www.erinenergy.com.
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