Camac Energy Incorporated - Camac To Acquire 3d Seismic Off Shore GambiaRelease Date: 15/12/2014 15:26:00 Code(s): CME
CAMAC Energy Incorporated
(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 Energy? or ?the Company?)
CAMAC Energy to Acquire 3D Seismic Offshore Gambia
Acquisition to cover approximately 1,504 km2 (372,647 acres)
HOUSTON, Texas ? December 15, 2014 - CAMAC Energy Inc. (?CAMAC? or the ?Company?) (NYSE MKT:
CAK) (JSE: CME) 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
Source: CAMAC Energy Inc.
1330 Post Oak Blvd., Suite 2250
Houston, TX 77056
Christopher D. Heath
Director, Corporate Finance and Investor Relations
Jacques de Bie
+27 (0) 11 784 2598
15 December 2014
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 15/12/2014 03:26:00 Supplied by www.sharenet.co.za
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