What I found interesting in the recent FAR quarterly update was the following comment regarding Erin....
In another event post the end of the quarter, Erin Energy Corporation announced on 25 April 2018 that it and certain of its subsidiaries had filed voluntary petitions under Chapter 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division to pursue a plan of reorganization. FAR understands that Erin Energy Gambia Ltd, which holds the 20% interests in the A2 and A5 licences in The Gambia, is NOT one of the subsidiaries which has filed a petition.
Does this mean that the Gambia asset does not apply with respect to this bankruptcy??? A question for FAR perhaps?
Erin, Ch11 and DIP, page-3
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