Petroleum Africa
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Tuesday, June 23, 2015
Erin Energy Corp. is set to join the broad-market Russell 3000 Index at the conclusion of the Russell indexes annual reconstitution on June 26, according to a preliminary list of additions posted June 19.
Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Chris Hearne, senior VP and CEO of Erin Energy commented: “We are pleased with our addition to the Russell 3000, which is a testament to our positive momentum. As we continue to execute on our growth strategy, we expect our inclusion will raise Erin Energy’s visibility and generate greater interest among institutional investors.”
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