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Camac Energy Incorporated - Camac Energy Discovers Multiple Oil And Gas Reservoirs

Release Date: 04/08/2014 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
ISIN: US1317451011
USA ISIN: US1317451011
(?Camac Energy? ?the Company?)



CAMAC Energy Discovers Multiple Oil and Gas Reservoirs

Announces preliminary results of Oyo-8 well; Additional reserves expected

HOUSTON, Texas ? August 4, 2014 - CAMAC Energy Inc. (JSE: CME) announced today the preliminary
results of a successful Oyo field development well offshore Nigeria in OML 120. The Oyo-8 well
commenced drilling operations on June 15, 2014 and has both a vertical and a horizontal section. The
vertical section was designed to test for additional hydrocarbons in the previously undrilled Eastern fault
block of the Oyo field. CAMAC Energy is pleased to announce Oyo-8 was drilled to a total depth (TD) of
1,847 meters, and successfully encountered four new oil and gas reservoirs with total gross hydrocarbon
thickness of 34 meters based on results from the logging-while-drilling (LWD) data, reservoir pressure
measurement, and reservoir fluid sampling. The well will now be completed horizontally as a producing well
in the Pliocene formation of the Central Oyo field. Oyo-7, which was successfully drilled in October 2013,
will also be completed horizontally in the Pliocene formation of the Central Oyo field.

Management Comments

?This is an excellent result from the vertical section of Oyo-8, as it positively established oil presence in new
reservoirs in the Eastern fault block. We have commenced a detailed evaluation of the results with a view to
establishing the size of the incremental reserve additions,? said Segun Omidele, Senior Vice President of
Exploration and Production. ?We are one step closer to bringing these two high-impact development wells
on production that will generate immediate revenues, cash flow, and earnings for our shareholders.?

About CAMAC Energy

CAMAC Energy 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 current production and other 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, visit
www.camacenergy.com.

Forward-Looking Statements

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 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.

Source: CAMAC Energy Inc.

Investors:
Chris Heath
Director, Corporate Finance and Investor Relations
+1 713-797-2945
chris.heath@camacenergy.com

Media:
Magna Carta
Jacques de Bie
+27 (0)11 784 2598
jacques@magna-carta.co.za

3 August 2014
Johannesburg


Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

Date: 04/08/2014 07:05:00 Supplied by www.sharenet.co.za                     
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