Erin's 10-K SEC filing makes an interesting read.
Cash on hand USD 22.1mil till Dec 2017. USD 398.3mil of Liabilities including USD 277.4 mil accounts payable & accrued Liabilities and not enough cashflow to repay indebtness or trades payable. Failure to make Principal or Interest payments may result in Default.
That doesn't read well, when one has a field that was producing 4000 bopd net oil. The FPSO still shows up on MTr'ffc. I guess the acquisition of the smallish sized 'Oyo' oilfield in Nigeria is coming back to bite them. Little wonder the Directors etc left the building. Tough life.
Ann: Quarterly Activities and Cashflow Report, page-5
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