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.
Copyright Business Wire 2015
Source: Business Wire
(February 10, 2015 - 8:00 AM EST)
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