Picked up on Stockhouse

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Erin Abandons Panama Activities

CALGARY, May 5 /CNW/ - Erin Ventures Inc. [TSXV: EV] announces that it has received information that mineral concessions for the Santa Rosa Mine in Panama have been awarded to a third party despite Erin's claim to the assets. It is the opinion of Erin's management that there is clear evidence of inappropriate actions by certain government departments, giving this third party an improper and unfair advantage in the concession process (as reported by Erin in a news release dated December 15, 2010).

In light of this development, coupled with the recent "anti-mining" attitude developing within Panama, management of Erin feels it prudent to abandon all activities in Panama until further notice.

On behalf of the Board of Directors,

Blake Fallis, General Manager

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Hi Akerman

Another interesting development. Didn't expect this curve ball. Too early to say how to interpret. Leaving a sinking ship or achieving a life times goal. Positive vibes on the boards but the sale of 1.69 million shares suggests otherwise.

Off to Egypt for a month. Less stressful out there than following CIVC here.

I hope by my return in mid March the oil is economically extractable and the SP has rocketed. It needs to go up a couple of cents more for me to reach break even!!

Best to you and all CIVC investors

a6dyl

Hi Rico and Akerman

1.5 cents up on the day better than we could reasonably expect. Opened and closed at $0.08 so non of us got it correct.

Tomorrow I predict an opening at $0.08 and a close at $0.085. The US market will be open after todays holiday, so expect some initial enthusiasm before the SP falls back.

Major movements unlikely until drilling nears completion. Watch out for any directors selling. If you see it bail out. This happened last time they drilled. JMHO

a6dyl

Hi Akerman

Your maths look good to me. The only aspect you may not have considered is the other irons CQV have in the fire. Alberta. mineral rights and other licences in NF.

Re hedging your bets with moving into SHP I did similar but bought Enegi Oil at approx $3.50 a share, instead. Enegi is my biggest share loss. They stand at $0.40/share at the moment.

a6dyl

Hi Akerman & Rico

Thats my prediction out the window but boy am I pleased to be wrong!!!

a6dyl

Hi Rico

I'll go along. Open at 0.07 and close at 0.075.

Love to be wrong but past performance suggests little movement until more info is available.

a6dyl