CAMAC Energy Inc. has informed that the Northern Offshore Energy Searcher drillship is currently located offshore Cameroon, where it is awaiting final clearance by the Nigerian Department of Petroleum Resources (“DPR”) to enter Nigeria and commence drilling operations at the Oyo Field.
In addition to the development wells offshore Nigeria, the company has identified 10 exploration prospects and 12 leads, and has currently high-graded three prospects containing unrisked prospective resources in excess of 200 MMBO each. Current efforts are focused on determining the first exploration well location to be drilled in 2015.