9 July 2018late filing notice▼ Bad
Erin Energy Corp. notified the SEC that its quarterly report would be filed late.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 May 2018listing compliance notice▼ BadMajor
Following the Chapter 11 filing, the NYSE American began delisting proceedings and suspended trading in Erin's stock on April 26, 2018; it filed Form 25 with the SEC on May 9 and removal was set for May 21, 2018. The stock has traded over-the-counter since April 27 under the ticker ERINQ. This is a consequence of the bankruptcy; the filing does not address the outcome for shareholders.
9 May 2018listing compliance notice● NeutralMajor
Erin Energy Corp.'s exchange filed to remove a class of its securities from listing.
8 May 2018late filing notice▼ Bad
Erin Energy Corp. notified the SEC that its quarterly report would be filed late.
26 Apr 2018bankruptcy or receivership▼ BadMajor
On April 25, 2018 Erin Energy and certain subsidiaries (named in the exhibits as EEKL, EEL and EPNL) filed voluntary Chapter 11 petitions in the Southern District of Texas, Houston. They will keep operating under court supervision, are seeking debtor-in-possession financing, and plan to file a reorganization plan soon. The filing says nothing yet about what happens to shareholders' stock or to creditors.
27 Feb 2018capital raising announcement● NeutralMajor
On Feb 26, 2018 (effective Dec 31, 2017) Erin cut the conversion price of the $50M convertible note held by Oltasho Nigeria Limited, now described as its largest stockholder, from $10.46 to $2.75 per share and converted it immediately. The $61.4M owed (principal plus interest) became 22,327,327 new shares and the note is deemed paid in full, which removes that debt but dilutes other shareholders. This resolves the earlier Allied convertible note thread; the filing does not say how Oltasho relates to Allied, which would be an inference.
29 Dec 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 8,405 shares on the open market.
5 Dec 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 3,323 shares on the open market.
20 Nov 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 12,457 shares on the open market.
8 Nov 2017quarterly activities report▼ Bad
Erin Energy Corp. reported a quarterly net loss of $14.1 million for the period ended 2017-09-30.
3 Nov 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 7,800 shares on the open market.
27 Oct 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 1,500 shares on the open market.
20 Oct 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 24,970 shares on the open market.
16 Oct 2017substantial holder notice● Neutral
Dr. Kase Lawal disclosed a new substantial Erin Energy Corp. shareholding (57.70% of votes).
13 Oct 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 33,247 shares on the open market.
13 Oct 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 35,127 shares on the open market.
13 Oct 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 194,419 shares on the open market.
13 Oct 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 194,370 shares on the open market.
13 Oct 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 140,932 shares on the open market.
13 Oct 2017director interest notice● Neutral
Erin Energy Corp. 10%+ owner Kase Lukman Lawal bought 64,408 shares on the open market.
12 Sept 2017director interest notice● Neutral
Erin Energy Corp. SVP, Corporate Services Heidi Wong exercised stock options for 212,260 shares.
18 Aug 2017director interest notice● Neutral
Abdul-sabur Oladipupo (dippo) Bello became a Erin Energy Corp. VP, Fin. Planning & Treasurer and company insider (initial ownership filing).
15 Aug 2017quarterly activities report▼ Bad
Erin Energy Corp. reported a quarterly net loss of $98.6 million for the period ended 2017-06-30.
11 Aug 2017substantial holder notice● Neutral
Oltasho Nigeria Limited, Latmol Investment Limited, Alhaji Murhi Busari disclosed a new substantial Erin Energy Corp. shareholding (54.50% of votes).
11 Aug 2017director interest notice● Neutral
Alhaji Murhi Busari became a Erin Energy Corp. 10%+ owner and company insider (initial ownership filing).
9 Aug 2017quarterly activities report▼ Bad
Erin Energy Corp. reported a quarterly net loss of $98.6 million for the period ended 2017-06-30.
8 June 2017director interest notice● Neutral
Erin Energy Corp. Interim CEO,Gen Counsel,Sec Jean-michel Malek had 33,635 shares withheld for taxes on vesting stock.
2 June 2017director interest notice● Neutral
Erin Energy Corp. director John M Rudley received 62,222 shares as part of the equity award.
2 June 2017director interest notice● Neutral
Mahmud Yayale Ahmed became a Erin Energy Corp. director and company insider (initial ownership filing).
2 June 2017director interest notice● Neutral
Erin Energy Corp. director Mahmud Yayale Ahmed received 62,222 shares as part of the equity award.