CAMAC Energy Completes 2D Seismic Acquisitions in Kenya
February 10 2015 - 8:00AM
Business Wire
CAMAC Energy Inc. (“CAMAC” or the “Company”) (NYSE MKT:CAK)
announced today the successful completion of its onshore 2D seismic
acquisitions on blocks L-1B and L-16 in the Republic of Kenya.
The 2D seismic program was conducted by BGP Kenya Limited
(“BGP”) and covers approximately 700 line kilometers on L-1B and
325 line kilometers on L-16.
The objective of the acquisition is to identify potential
exploration targets in the Paleozoic, Jurassic, Cretaceous, and
Middle to Lower Tertiary sections, which are known to be
oil-bearing in the East Africa region. The seismic survey, paired
with the previously completed airborne gravity and magnetic
surveys, will be used to help identify potential drilling targets
on the block.
“The preliminary results from data processing in the field are
encouraging”, commented Segun Omidele, Senior Vice President of
Exploration and Production. “These seismic surveys are fundamental
to advancing our onshore Kenya work program and our understanding
of the resource potential on these blocks and will help us
determine potential locations to begin our exploration
drilling.”
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.
Forward-Looking Statements
This news release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements,
other than statements of historical fact, concerning activities,
events or developments that the Company expects, believes or
anticipates will or may occur in the future are forward-looking
statements. Although the Company believes the expectations
reflected in these forward-looking statements are reasonable, they
involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. The Company’s actual
results could differ materially from those anticipated or implied
in these forward-looking statements due to a variety of factors,
including the Company’s ability to successfully drill and complete
the wells and prospects identified in this release and risks and
other risk factors discussed in the Company’s periodic reports
filed with the Securities and Exchange Commission. All
forward-looking statements are expressly qualified in their
entirety by this cautionary statement. You should not place undue
reliance on forward-looking statements, which speak only as of
their respective dates. The Company undertakes no duty to update
these forward-looking statements.
CAMAC Energy Inc.Investors:Christopher D. Heath,
713-797-2945Director, Corporate Finance and Investor
Relationschris.heath@camacenergy.comorMedia:Lionel C. McBee,
713-797-2960Manager, Corporate
Communicationslionel.mcbee@camacenergy.com
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