SEC Form 4 · accession 0001580695-17-000466

Erin Energy Corp. · ERN

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Kase Lukman Lawal

10% Owner

Period of report

May 19, 2016

Accepted (ET)

Oct 13, 2017 · 9:44 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001402281

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	Apr 3, 2017	J	116,108,833	—	D	0	I	By Allied Energy PLC
Common Stock^F2	Apr 13, 2017	J	1,515,927	—	D	0	I	By CAMAC Int'l (Nigeria) Ltd.
Common Stock^F3	Jul 5, 2017	J	117,624,760	—	A	117,624,760	I	Through Voting Agreement
Common Stock^F4	May 19, 2016	P	2,700	$2.05	A	2,605,619	D
Common Stock^F5	May 23, 2016	P	620	$1.85	A	2,606,239	D
Common Stock^F6	May 24, 2016	P	900	$2.00	A	2,607,139	D
Common Stock^F7	May 25, 2016	P	200	$2.05	A	2,607,339	D
Common Stock^F8	May 26, 2016	P	2,000	$2.45	A	2,609,339	D
Common Stock^F9	May 27, 2016	P	1,600	$2.44	A	2,610,939	D
Common Stock^F10	Jun 1, 2016	P	3,314	$2.44	A	2,614,253	D
Common Stock^F11	Jun 2, 2016	P	700	$2.30	A	2,614,953	D
Common Stock^F12	Jun 3, 2016	P	600	$2.39	A	2,615,553	D
Common Stock^F13	Jun 8, 2016	P	1,500	$2.73	A	2,617,053	D
Common Stock^F14	Jun 13, 2016	P	1,500	$2.60	A	2,618,553	D
Common Stock^F15	Jun 14, 2016	P	5,700	$2.59	A	2,624,253	D
Common Stock^F16	Jun 15, 2016	P	700	$2.51	A	2,624,953	D
Common Stock^F17	Jun 16, 2016	P	2,130	$2.34	A	2,627,083	D
Common Stock^F18	Jun 23, 2016	P	1,200	$2.30	A	2,628,283	D
Common Stock^F19	Jun 24, 2016	P	1,000	$2.16	A	2,629,283	D
Common Stock^F20	Jun 27, 2016	P	1,600	$2.12	A	2,630,883	D
Common Stock^F21	Jun 30, 2016	P	4,400	$2.34	A	2,635,283	D
Common Stock^F22	Jul 1, 2016	P	3,500	$2.34	A	2,638,783	D
Common Stock^F23	Jul 5, 2016	P	2,000	$2.20	A	2,640,783	D
Common Stock^F24	Jul 12, 2016	P	1,906	$2.52	A	2,642,689	D
Common Stock^F25	Jul 18, 2016	P	3,600	$2.72	A	2,646,289	D
Common Stock^F26	Jul 21, 2016	P	3,500	$2.65	A	2,649,789	D
Common Stock^F27	Jul 22, 2016	P	1,700	$2.59	A	2,651,489	D
Common Stock^F28	Jul 25, 2016	P	3,400	$2.55	A	2,654,889	D
Common Stock^F29	Jul 26, 2016	P	900	$2.50	A	2,655,789	D
Common Stock^F30	Jul 27, 2016	P	3,400	$2.50	A	2,659,189	D

Table II — derivative securities

No Table II lines on this filing.

Explanation of responses

F1On April 3, 2017, an aggregate of 116,108,833 shares of the Registrant's common stock previously held by Allied Energy PLC ("Allied"), which shares Dr. Lawal was deemed to beneficially own, were foreclosed upon by Oltasho Nigeria Limited ("Oltasho"), in connection with the failure of Allied to timely repay $50 million owed to Oltasho, pursuant to the terms of a loan agreement and certain stock pledges.
F10The price reflects a weighted average of purchases made at prices ranging from $2.44 to $2.45. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F11The price reflects a weighted average of purchases made at prices ranging from $2.29 to $2.31. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F12The price reflects a weighted average of purchases made at prices ranging from $2.38 to $2.40. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F13The price reflects a weighted average of purchases made at prices ranging from $2.72 to $2.73. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F14The price reflects a weighted average of purchases made at prices ranging from $2.59 to $2.63. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F15The price reflects a weighted average of purchases made at prices ranging from $2.58 to $2.60. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F16The price reflects a weighted average of purchases made at prices ranging from $2.51 to $2.51. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F17The price reflects a weighted average of purchases made at prices ranging from $2.34 to $2.35. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F18The price reflects a weighted average of purchases made at prices ranging from $2.29 to $2.30. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F19The price reflects a weighted average of purchases made at prices ranging from $2.16 to $2.16. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F2April 13, 2017, an aggregate of 1,515,927 shares of the Registrant's common stock previously held by CAMAC Int'l (Nigeria) Ltd. ("CAMAC International"), which shares Dr. Lawal was deemed to beneficially own, were foreclosed upon by Latmol Investment Limited ("Latmol"), in connection with the failure of CAMAC International to timely repay $50 million owed by CAMAC International to Latmol, pursuant to the terms of a loan agreement and a stock pledge.
F20The price reflects a weighted average of purchases made at prices ranging from $2.11 to $2.15. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F21The price reflects a weighted average of purchases made at prices ranging from $2.26 to $2.41. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F22The price reflects a weighted average of purchases made at prices ranging from $2.29 to $2.37. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F23The price reflects a weighted average of purchases made at prices ranging from $2.18 to $2.22. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F24The price reflects a weighted average of purchases made at prices ranging from $2.51 to $2.55. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F25The price reflects a weighted average of purchases made at prices ranging from $2.71 to $2.74. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F26The price reflects a weighted average of purchases made at prices ranging from $2.53 to $2.72. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F27The price reflects a weighted average of purchases made at prices ranging from $2.58 to $2.60. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F28The price reflects a weighted average of purchases made at prices ranging from $2.54 to $2.57. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F29The price reflects a weighted average of purchases made at prices ranging from $2.48 to $2.52. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F3On July 5, 2017, Oltasho and Latmol entered into a Voting Agreement with Dr. Lawal (the "Voting Agreement"). Pursuant to the Voting Agreement, Oltasho and Latmol provided complete authority to Dr. Lawal to vote the 117,624,760 shares foreclosed upon (and any other securities of the Registrant obtained by Oltasho and/or Latmol in the future) at any and all meetings of stockholders of the Registrant and via any written consents. The Voting Agreement has a term of approximately 10 years, through July 31, 2027, but can be terminated at any time with the mutual consent of the parties. In connection with their entry into the Voting Agreement, Oltasho and Latmol each provided Dr. Lawal an irrevocable voting proxy to vote the shares covered by the Voting Agreement. Additionally, Oltasho and Latmol agreed not to transfer the shares covered by the Voting Agreement, during the term of such agreement, except pursuant to certain limited exceptions described in the Voting Agreement.
F30The price reflects a weighted average of purchases made at prices ranging from $2.44 to $2.53. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F4The price reflects a weighted average of purchases made at prices ranging from $2.00 to $2.14. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F5The price reflects a weighted average of purchases made at prices ranging from $1.85 to $1.86. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F6The price reflects a weighted average of purchases made at prices ranging from $1.98 to $2.03. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F7The price reflects a weighted average of purchases made at prices ranging from $2.05 to $2.05. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F8The price reflects a weighted average of purchases made at prices ranging from $2.40 to $2.50. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
F9The price reflects a weighted average of purchases made at prices ranging from $2.43 to $2.47. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.