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.
