CAMAC Energy to Acquire 3D Seismic Offshore Gambia
December 15 2014 - 8:00AM
Business Wire
Acquisition to cover approximately 1,504
km2 (372,647 acres)
CAMAC Energy Inc. (“CAMAC” or the “Company”) (NYSE MKT: CAK)
announced today that its wholly owned subsidiary, CAMAC Energy
Gambia Ltd, awarded a contract for the acquisition of a 3D seismic
survey to Polarcus Limited. The survey will cover approximately
1,504 km2 in the Company’s A2 and A5 blocks offshore Gambia.
The objectives of the seismic survey are to enhance the
definition and maturation of potential prospects in the blocks and
provide high-quality sub-surface images that allow high-resolution
characterization of reservoirs. The A2 and A5 blocks are located in
the offshore Casamance sub-basin, which forms the southern part of
the greater Senegal Basin. The southern area, including blocks A2
and A5, now has a proven petroleum system in place due to two
recent discovery wells on an adjacent offshore Senegal block.
The recent FAN-1 and SNE-1 offshore Senegal discoveries, by
Cairn (LSE: CNE), Conoco (NYSE: COP), FAR (ASX: FAR) and Petrosen
(Senegalese NOC), are on-trend with the Company’s A2 and A5 blocks
and are located approximately 35.5 km NNE and 13.8 km NNW,
respectively, of block A2. The 3D seismic survey will help
determine the extent of the play fairways into CAMAC’s blocks.
Segun Omidele, Senior Vice President of Exploration and
Production, commented, “This 3D acquisition is an important part of
our offshore Gambia exploration program. We are encouraged by the
recent discoveries north of us and excited that we are able to
contract with Polarcus. Given their in-place infrastructure, we are
able start almost immediately with the 3D seismic acquisition.”
About CAMAC Energy
CAMAC Energy is an independent oil and gas exploration and
production company focused on energy resources in sub-Saharan
Africa. Its asset portfolio consists of nine licenses across four
countries covering an area of 43,000 square kilometers, including
current production and other exploration projects offshore Nigeria,
as well as exploration licenses offshore Ghana, Kenya, and Gambia,
and onshore Kenya. CAMAC Energy is headquartered in Houston, Texas.
For more information about CAMAC Energy, please visit
www.camacenergy.com.
CAMAC Energy Inc.Investors:Christopher D. Heath,
713-797-2945Director, Corporate Finance and Investor
Relationschris.heath@camacenergy.comMedia:Lionel C. McBee,
713-797-2960Manager, Corporate
Communicationslionel.mcbee@camacenergy.com
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