CAMAC ENERGY INCORPORATED - Camac Energy Spuds Oyo-8 Development Well Offshore NigeriaRelease Date: 17/06/2014 07:05:00 Code(s): CME
CAMAC Energy Incorporated
(Previously Pacific Asia Petroleum Inc.)
(Incorporated and registered in Delaware, United States of America)
Share code on the NYSE MKT: CAK
Share code on the JSE: CME
USA ISIN: US1317451011
(?Camac? or ?the company?)
CAMAC Energy Inc.
1330 Post Oak Blvd., Suite 2250
Houston, TX 77056
CAMAC Energy Spuds Oyo-8 Development Well Offshore Nigeria
CAMAC Energy is the Operator with 100% interest
HOUSTON, Texas ? June 16, 2014 - CAMAC Energy Inc. (NYSE MKT: CAK) announced today that the Oyo-8
development well was spudded on June 15, 2014. The Oyo-8 well is located offshore Nigeria in OML 120, where
CAMAC Energy is the operator and owns a 100% working interest. This development well lies within the Oyo field,
which was one of the first deepwater oil discoveries made in Nigeria. The Oyo field is located approximately 75
kilometers offshore Nigeria in water depths of approximately 300 meters.
Oyo-8 will be drilled by the Northern Offshore Energy Searcher drillship to a total depth of approximately 1,800
meters in water depths of approximately 310 meters, and will produce from the Pliocene reservoir. The Oyo-8 well is
expected to commence production in the fourth quarter and, together with the Oyo-7 well which will be completed
subsequent to the Oyo-8 well, is expected to significantly increase production from the Oyo Field.
About CAMAC Energy Inc.
CAMAC Energy Inc. is an independent oil and gas exploration and production company focused on energy resources
in Africa. Its asset portfolio consists of nine licenses across four countries covering an area of 43,000 square
kilometers, including existing 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, and is listed on the New York Stock Exchange under the ticker symbol CAK, and on the Johannesburg Stock
Exchange under the ticker symbol CME. For more information, please visit www.camacenergy.com.
This press 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 in these
forward-looking statements due to a variety of factors, including the Company?s ability to successfully drill, complete,
test and produce the wells identified in this release and 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.
Source: CAMAC Energy Inc.
Chris Heath, +1 713-797-2945
17 June 2014
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 17/06/2014 07:05:00 Supplied by www.sharenet.co.za
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