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.
Copyright Business Wire 2014
Source: Business Wire
(December 15, 2014 - 8:00 AM EST)
News by QuoteMedia