Company Presentation. April 2016

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Company

Presentation

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Cautionary Language

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on our current expectations about our company, our properties, our estimates of required capital expenditures and our industry. Words such as "expect,” "will," "anticipate," "indicate," "estimate," "believes," "plans" and similar expressions are intended to identify such forward-looking statements. It is important to note that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. Actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: the preliminary nature of well data, including

permeability and gas content, and commercial viability of the wells; risk and uncertainties associated with exploration, development and production of oil and gas; drilling and production risks; our lack of operating history; limited and potentially inadequate cash resources; expropriation and other risks associated with foreign operations; anticipated pipeline construction and transportation of gas; matters affecting the oil and gas industry generally; lack of oil and gas field goods and services; environmental risks; changes in laws or

regulations affecting our operations, as well as other risks described in our Annual Report on Form 10-K, Quarterly Reports filed on Form 10-Q, and subsequent filings with the Securities and Exchange Commission (“SEC”). Erin Energy undertakes no obligation to publicly update or revise any forward-looking statements.

We use certain terms in this presentation such as “contingent resources,” “prospective resources,” “leads,” “oil in place” and similar terms that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. Our Probable (2P) and Possible (3P) reserves may not meet SEC rules and Guidelines (including those relating to pricing) for such reserves. These terms include reserves with substantially less certainty, and no discount or other adjustment is included in the presentation of such reserve numbers. U.S. investors are urged to consider closely the disclosure in our Form 10-K for the year ended December 31, 2014 and in our other filings with the SEC, available on our website at www.erinenergy.com, from us at 1330 Post Oak Blvd., Suite 2250, Houston, Texas 77056, Attn: Investor Relations, or by calling us at (713) 797-2940. You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov or by calling the SEC at 1-800-SEC-0330.

March 2016

Company Presentation / 2

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Erin Energy Corporation

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Erin Energy Corporation is an independent oil and

gas exploration and production company focused on

energy resources in sub-Saharan Africa

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Asset portfolio consists of 9 licenses across 4

countries covering ~40,000km2 (10 million acres)

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Assets include current production and other

exploration projects offshore Nigeria, exploration

licenses offshore Ghana, Kenya and Gambia, and

onshore Kenya

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Full operatorship of all nine assets with

highly-experienced management team and board of

directors

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Headquartered in Houston, Texas, and listed on the

New York (NYSE MKT) and Johannesburg Stock

Exchanges (JSE) under the ticker symbol ERN

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Who we are and what we do

2.9

1.6

Billion barrels of unrisked

2C prospective resources

Million net barrels of oil

produced in 2015

1

st

Pioneer offshore E&P

company in Nigeria

16

Million barrels of net

reserves (2P)

World-class assets in 4

African countries

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March 2016 Company Presentation /

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Our Company at a Glance

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We are a global E&P company with a leading Sub-Saharan Africa portfolio that is well

positioned to provide exceptional value for shareholders

Asset Overview

Corporate Offices Operations Production

Houston-based independent E&P company listed on NYSE MKT & JSE

Production & Exploration Projects with Full Operatorship

Diverse Portfolio with 9 Premium Assets across 4 Countries $430m(1)_{Market Cap} Production(2) ~9,000 bopd 16.1 mmbbls 2P Reserves (Net) (1)  As at 29-Mar-2016, Bloomberg

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2015 Overview

Operational Summary

•  Tied in Oyo-7 and Oyo-8 wells

•  Net production of approximately 1.6 mmbbls of oil

•  Production averaged 6,400 bbls per day for the year following

tie-in of Oyo-8 and Oyo-7 wells in May and mid-June

•  Significant progress made on the technical evaluation of

ESWT block in Ghana

•  Acquired 3-D seismic data and extended exploration period

on The Gambia blocks A2 and A5 through 2018

•  Acquired and processed 2-D seismic data and entered into

next phase of exploration on onshore Kenya blocks L1B and L16

Financial Summary

•  Full year 2015 revenues were $68.4million

•  Net proved reserves up 32% to 12.0 mmbbls

•  Crude sales of more than 1.4 mmbbls

2016 Capital Development

•  Drill Oyo-9 development well to increase production

•  Drill G prospect to unlock Miocene formation

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Erin Energy Corporation achieved many positive results despite the challenging economic

climate

FY2015 Highlights

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Nigeria

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Country overview

Block History & Commitment

•  Block awarded in 1995 to Allied as OPL 210

•  Converted to OML 120 and 121 in 2002

•  10 successful wells drilled

•  Sole Risk license under the indigenization program

Current Status

•  Producing ~2,000 bopd from Oyo field (~9,000 bopd

beginning April 2016)

•  Discovered gas in Ebolibo

•  Additional development wells being planned for Oyo field

Prospectivity

•  Prospectivity of Miocene established by Oyo-7

•  Four world class prospects in the Miocene formation with

prospective resources of 2.4 Bbbls oil, recoverable (P50)

•  Blocks surrounded by mega producing fields – Erha, Bonga,

Sonam 1.7 billion bbls 340 million bbls 253 million bbls Erin Equity Erin Equity March 2016 Company Presentation /

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Nigeria

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Oyo Field future development opportunities

Oyo Phase II Expansion – Q4 2016

•  Oyo-9 producing well (Oyo Central West Extension)

Future Development Opportunities in Oyo Field •  Oyo-10 (Oyo Central West Main)

•  Oyo-11 (Oyo Central East)

Oyo Central West Extension

Oyo-9

•  Wells in Oyo Expansion Phase II

•  Future Wells Contingent Upon Phase II Drilling Results/Favorable Economics

Oyo Central West Main Oyo-1, -4, -5, -7 & -8

Oyo-10

Oyo Central East Oyo-8 Oyo- 11

Est. Capex ($m) Est. Production

(Net mbbls)

Oyo-9 62.0m 7,548

Oyo-10 65.6m 2,566

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Oyo Field Expansion Phase 1

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Project Performance vs Original Oyo Development

Average Drilling & Completion Duration

Days / Well

•  Average of 40% cost savings per well for D&C and SURF (i.e excluding FPSO) over initial project cost •  Average of 50% drilling and completion time savings over initial project performance

Average Development Cost (excl FPSO)

US$m / Well

93.5 49.5 44.0 24.0 137.5 73.5 Drilling Completion Total

Initial Development Oyo 5-6 Expansion Phase 1 Oyo 7-8

112.4 91.9 93.1 34.7 205.5 126.6

Wells SURF / Installation Total Initial Development Oyo 4-5-6 Expansion Phase 1 Oyo 7-8

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Drill-Ready Exploration Wells

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Nigeria OML 120/121

OML 120 & 121

Portfolio of 22 prospects and leads

Anticipated Development Summary

Erin Equity

Source: *_{DeGolyer and MacNaughton.}**_{Gaﬀney, Cline & Associates.}

Prospec@ve resources & produc@on values are unrisked Company Presentation / March 2016

Est. Production (Net mmbbls) Est. Revenue at $50/bbl ($m)

Prospect G 158.4 mmbbls 7,920m Ereng 1,635.4 mmbbls 81,770m 0 20,000 40,000 60,000 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 D ai ly Pro du ct io n (BO PD ) G Downthrown G Upthrown 0 100,000 200,000 300,000 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 D ai ly Pro du ct io n (BO PD ) Ereng

•  Prolific Western Niger Delta (> 40 Billion Barrels Discovered)

•  Flanked by the Giant Fields – Bonga, Erha & Bosi

•  Production Facilities on the Block

•  Prioritized high-value exploration portfolio

•  P50 Prospective Resources of 2.4 Bbbls oil (4 Prospects)

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Ghana

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Country overview

Block History & Commitment •  JOA signed Jan. 2015

•  Block with 3 discovered fields

•  Initial work commitment

•  Declare commerciality within 9 months

•  Reprocess existing 3D seismic data

•  Drill one well within 2 years

Current Status

•  Completed the resource volume assessment on ESWT block

•  In place oil and gas volumes assessed at approx.

500mmbbls and 282 BCF •  14 wells drilled in the field

•  Potential for commercial development

•  Seeking a review of the fiscal terms

•  Seeking clarification on the boundary dispute

•  Drilling of one well within 2 years may be impacted

Prospectivity

•  Near term development opportunity

•  Identified four high quality prospects within the vicinity of

discovered fields

•  3D acquisition being planned to better define prospectivity

•  Prospects are arranged in corridor

between West Tano and South Tano near field opportunities

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Gambia

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Country overview

Block History & Commitment

•  Blocks A2 & A5 awarded in 2012 for 4 years (Dec. 2016)

•  Initial work commitment per block

•  Regional geological survey

•  Acquire, process, interpret 750 sq. km of 3D seismic data

•  Drill one exploration well

•  Modification to PSC (2015)

•  Expiry extended to Dec 2018

•  Drill one exploration well in either block

Current Status

•  Completed 3D Seismic acquisition

•  Currently processing more than 1,600 km2 3D seismic data

•  Actively seeking farm-in partners

Prospectivity

•  On trend with proven petroleum system confirmed in recent

discoveries offshore Senegal

•  The SNE-3 well located ~10 km from A2

•  Subsequent appraisal with SNE-2 well resulted in upwardly

revised P50 (2C) resources to 385 mmbbls (Cairn Energy)

•  Seven leads in Shelf Edge Fairway

March 2016 Company Presentation / A2 A5

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30 00_m 20 00 m 10 00 m 20 00 m 10 00 m 50 0 m 50 0 m 0 m 10 10 0 m Jammah 1 FAN 1 SNE 1 20 km

From: Cairn Energy 2016

Reef Tre nd Plat form Sa nds Albi an Sh elf Ed ge

SNE

Discovery

Fan

Discovery

Cairn Block Erin Energy

Erin Energy

Prospective

Trend

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Kenya

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Country overview

Block History & Commitment •  4 blocks awarded in 2012

•  Initial work commitment for L1B and L16 (2 years)

•  Acquisition & interpretation of gravity & magnetic data

•  Acquire, process and interpret 500km of 2D data

•  Initial work commitment for L27 and L28 (3 years)

•  Regional geological and geophysical studies

•  Reprocessing & re-interpreting previous 2D seismic data

•  Acquiring, processing and interpret 1,500 square kilometres

of 3D seismic data Current Status

•  18 months extension granted for L27 & L28 (February 2017)

•  Completed 1800km 2D seismic acquired & processed

•  3D acquisition in L27 & L28 subject to completing farm-out

•  Moved into first extension period for L1B and L16 (June 2017)

•  Completed Gravity & Magnetics plus 1025km 2D seismic data

acquired & processed

•  300km2 3D seismic and drill one well

•  Planning 3D acquisition in L16 and L1B in 2017

Prospectivity

•  Numerous high potential leads have been identified using the

recently acquired 2D seismic data & gravity & magnetics data

•  Proven petroleum system with numerous hydrocarbon shows

from offsetting wells

March 2016 Company Presentation / Kiboko Mbawa Koﬁa Maridad i Sunbird Simba Kubwa

L16

Pomboo Hagarso

Bouguer Gravity

L1B

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Technical Capability

Experienced Staff Pool

•  Majority of senior staff are from Major IOCs with great

networks

•  International experience spanning all continents

•  Top 10 technical staff have more than 300 years of industry

experience

•  Staff have full industry life-cycle experience

Location Advantage

•  Company is headquartered in Houston

•  Easy access to capable manpower and technology

Operational Track Record

•  Proved efficiency in drilling and completion when compared to

previous operator

•  Ongoing reservoir management and production optimization

•  Ongoing cost reductions through supplier negotiations

•  Planned drilling of development and exploration wells in 2016

Cost Advantage

•  Erin is low cost operator compared to previous IOC

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Top-Class technical and operational capacity

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Investment Highlights

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Our value creation model

We are a pioneering Exploration & Production company uniquely positioned to deliver success

Production and

Revenue Growth

Reserves and

Resources Growth

Near-Term High

Impact Exploration

Long-Term Frontier

Exploration

Sub-Saharan

Africa Assets

Opportunistic

Acquisitions

•  Generating predictable, repeatable oil production growth

•  Favourable fiscal regimes with a low fixed-cost base

•  Industry leading drilling success

•  Advancing world-class frontier exploration in Africa

•  Near-term high-impact exploration offshore Nigeria

•  Continuing to obtain attractive exploration assets

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Our Board

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Distinguished Board of Directors

Lee Brown

Independent Director Former Mayor, City of Houston

Director, Office of National Drug Control Policy, President Clinton Cabinet

Bill Campbell Independent Director Managing Director, CB Energy, LLC Dudu Hlatshwayo Independent Director Director, Public Investment Corporation

Chairman, Change EQ (PTY) Ltd.

Former Partner, Ernst & Young

Wayne McConnell

Independent Director Managing Partner, McConnell & Jones LLP

John Hofmeister

Chairman(1)

Former President, Royal Dutch Shell

Hazel O’Leary

Independent Director Secretary of Energy, President Clinton Cabinet Assistant Secretary of Energy, President Carter Federal Energy

Administration, President Ford

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Our Team

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Experienced and diverse international management team

Segun Omidele

Chief Operating Officer Allied Energy Plc

Royal Dutch Shell

Ojay Uzoh VP, Technical Shell International Shell Oil US Jean-Michel Malek SVP, General Counsel and Secretary CAMAC International Carl Scharpf VP, Exploration & Geoscience Apache Corp Murphy Oil Marathon Oil Burlington Resources Kase Lawal Chairman and

Chief Executive Officer Founder Daniel Ogbonna SVP, Chief Financial Officer CAMAC International Limited Brands Deloitte Consulting JP Morgan Securities Heidi Wong SVP & Chief Administrative Officer Pacific Asia Petroleum ChevronTexaco

Olu Marinho

VP, Projects Eni E&P S.p.A. Royal Dutch Shell

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Our Team

•  Kase Lawal is Chairman and Chief Executive Officer and is the founder of Erin Energy Corporation. Dr. Lawal is committed to public service,

and contributes valuable leadership as a board member of the National Urban League, and the Cullen Engineering Research Foundation. In addition, he is a member of the Board of directors and a shareholder of Unity National Bank in Texas. Dr. Lawal earned a bachelor's degree in chemistry from Texas Southern University and an MBA in finance and marketing from Prairie View A&M University. He was awarded an honorary doctorate in philosophy from Fort Valley State University, and an honorary doctorate in humane letters from Texas Southern University.

•  Segun Omidele is Chief Operating Officer and joined the company in 2011. Prior to being promoted to COO, he served as Senior Vice

President, Exploration & Production. Prior to joining Erin Energy, he was Senior Vice President, Exploration and Production for Allied Energy Corporation since October 2008. Prior to joining Allied Energy Corporation, Mr. Omidele worked for 28 years with Shell companies in Nigeria, UK and the USA where he held several technical and management positions. He left the services of Shell E&P, Africa as Resource Volume Manager for Africa in September 2008. Mr. Omidele holds a Bachelor's degree in Petroleum Engineering from the University of Ibadan, Nigeria and a Masters in Petroleum Engineering from the University of Houston. He is also a graduate of the Advanced Management Program of Harvard Business School, and is a member of the Society of Petroleum Engineers and the Nigerian Society of Engineers.

•  Daniel Ogbonna is Senior Vice President and Chief Financial Officer and joined Erin in September 2015. Prior to Erin, he served as Executive

Vice President and Chief Strategy Officer of CAMAC International Corporation since 2010 and led the business development and M&A activities. He was also responsible for strategic planning, financial forecasting, acquisition analysis, and securing project funding. Mr. Ogbonna has

extensive experience working with financial institutions and brings an acute understanding of Erin Energy’s business, the countries in which the Company operates, and the business climate in Africa. Prior to CAMAC, he held roles at Limited Brands, Deloitte Consulting, and JP Morgan Securities. Mr. Ogbonna holds an MBA from Harvard Business School and a MS in Mechanical Engineering from the University of Michigan.

•  Jean-Michel Malek is Senior Vice President, General Counsel and Secretary and joined Erin in November 2015. Mr. Malek was previously with

CAMAC International Corporation, where he served as Executive Vice President and General Counsel and was responsible for all aspects of CAMAC’s legal affairs around the world. Prior to then, 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. 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.

•  Heidi Wong is Senior Vice President and Chief Administrative Officer and joined the Company in 2008. She has served in various roles,

including Vice President of Business Planning and Strategy, and Managing Director of the Company’s China operations. As Vice President of China operations, she managed all aspects of in-country business development and government relations. Ms. Wong worked for more than two decades in business development, government liaison and commercial affairs with both Texaco and Chevron, including as Director of Marketing and Government Affairs for Texaco China, General Representative for Texaco in Beijing prior to the Texaco-Chevron merger, and Vice President of Business Development and External Affairs for ChevronTexaco China Energy Co. following the merger. Ms. Wong holds an MBA degree from Wuhan University in China.

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Our Team

•  Carl Scharpf is Vice President Exploration and Geoscience with 26 years of experience in the oil and gas industry. He has a proven track record

of exploration success around the world. Mr. Scharpf has significant experience in China, Indonesia, Trinidad, Australia, Egypt, Russia, Vietnam, the Gulf of Mexico as well as other parts of the world. Recently, Mr. Scharpf was the Offshore Gulf of Mexico Exploration Manager for Apache Corporation in Houston, USA. He held a similar position at Murphy Oil that was preceded by a role as Indonesia Exploration Manager for Marathon Oil in Jakarta Indonesia. Additionally, he held Management of Technical positions at Burlington Resources, Union Texas Petroleum, and Amoco. Mr. Scharpf holds a Bachelor of Science Degree in Geology from Rider University and a Master of Science Degree in Geology from the University of Cincinnati. He has taken Advanced Management Classes at the Southern Methodist University. He is a Professional Geologist in the State of Texas and a member of the American Association of Petroleum Geologists.

•  Ojay Uzoh is Vice President Technical with over 29 years engineering experience spanning five continents, most of which are in upstream oil and

gas. Prior to joining Erin Energy, Mr. Uzoh spent 20 years at Shell International E&P and Shell Oil US in various production roles, the last of which was Subsurface Manager for a major deepwater project. Before joining Erin Energy in 2016, Mr. Uzoh worked as a technical consultant to upstream oil and gas companies on deepwater business development, tight and shale gas development workflows and technologies. Mr. Uzoh was also a technical advisor to a major Los Angeles based Hedge fund facilitating oil and gas deals in Russia, Malaysia, Colombia, Israel, Canada, etc. Mr. Uzoh has a Masters’ degree in Petroleum engineering from University of Houston, and is a registered engineer of the province of Alberta Canada. Mr. Uzoh is also a member of the Society of Petroleum Engineers.

•  Olu Marinho is Vice President Projects with over 20 years of experience in the upstream oil and gas sector. Before joining Erin Energy, he held

senior project management positions in Eni E&P S.p.A and the Royal Dutch Shell Group. Mr. Marinho has hands on experience in the planning and execution of multi-billion dollar projects for deepwater applications in Nigeria, Angola and the Republic of Congo. He has a BS degree in Civil Engineering from Case Western Reserve University and an MS in Structural Engineering from Stanford University. He holds a Professional Project Manager (PMP) certification from the Project Management Institute (PMI).

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Contact us

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For more information: www.erinenergy.com

NYSE MKT: ERN I JSE: ERN

Main

+1 713 797 2940

Investor Relations

US

+1 713 797 2960

SA

+27 11 593 7303

Media

+1 713 797 2960

Erin Energy Corporation

Corporate Headquarters

South Africa Office

1330 Post Oak Blvd., Suite 2250

Katherine & West

Houston, Texas 77056

114 West Street, Unit 10

www.erinenergy.com

Sandton, 2196, Johannesburg