Erin Energy Corp. (NYSE: ERN) has been given approval by the government of Kenya to enter the first additional exploration period (FAEP) for its onshore blocks, L1B and L16.
Erin Energy completed the required work program for the initial exploration period of the blocks earlier this year and previously announced it had exercised its right, in accordance with the provisions of the production-sharing contracts, to apply for the FAEP and move to the next phase of exploration.
The FAEP of blocks L1B and L16 is effective as of July 9, 2015 for two years. The minimum work program for each block includes the acquisition, processing and interpretation of 300 sq km of 3-D seismic data and the drilling of one exploration well.
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