Search results for: CAMAC

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  • 12 January 2015
    Business & Finance, Exploration & Production

    After Northern Offshore said today that the company has terminated the contract for the Energy Searcher drillship with the oil exploration company CAMAC Energy due to breaches in the drilling contract, CAMAC issued a counter statement. Namely, CAMAC has said it has terminated its drilling contract with Northern Offshore, and not the other way around. In […]

  • 13 December 2010
    Business & Finance

    CAMAC Energy Inc. , a U.S.-based energy company engaged in the exploration, development and production of oil and gas, today announced that on December 10, 2010, CAMAC Energy finalized and executed a definitive Purchase and Continuation Agreement (the “Purchase Agreement”) with Allied Energy Plc and certain of its affiliates (“Allied”) to acquire all of Allied’s […]

  • 26 March 2014
    Business & Finance

    CAMAC Energy Inc. has announced the Parliament of the Republic of Ghana has ratified the Petroleum Agreement between the Government of the Republic of Ghana, Camac Energy Ghana Limited, the Ghana National Petroleum Corporation, Base Energy Ghana Limited, and GNPC Exploration and Production Company Limited covering the Expanded Shallow Water Tano Block offshore Ghana in […]

  • 24 February 2014
    Business & Finance, Operations & Maintenance

    CAMAC Energy Inc. closed the acquisition of the remaining economic interests that it did not already own in the production sharing contract covering Oil Mining Leases 120 and 121 (“OMLs”) offshore Nigeria, which include the currently producing Oyo Field, from Allied Energy Plc (“Allied”). CAMAC Energy now has operatorship and a 100% interest in 8 […]

  • 16 February 2011
    Business & Finance

      CAMAC Energy Inc. , a U.S.-based energy company engaged in the exploration, development and production of oil and gas, today announced that on February 15, 2011, it completed the acquisition of the remaining interest held by Allied Energy Plc and certain of its affiliates (“Allied”) in a Production Sharing Contract (the “PSC”) which relates […]

  • 13 April 2011
    Business & Finance

      CAMAC Energy Inc. , a U.S.-based energy company engaged in the exploration, development and production of oil and gas, today announced that Chief Executive Officer and President, Byron A. Dunn, has decided with the Board of Directors to resign his positions with the Company, effective immediately. The Board has appointed current Company Chairman Kase […]

  • 26 March 2014
    Business & Finance, Project & Tenders, Research & Development

    The Parliament of the Republic of Ghana has ratified the Petroleum Agreement between the Government of the Republic of Ghana, Camac Energy Ghana Limited, the Ghana National Petroleum Corporation (GNPC), Base Energy Ghana Limited, and GNPC Exploration and Production Company Limited (GNPC Explorco) covering the Expanded Shallow Water Tano Block offshore Ghana in the Gulf […]

  • 15 December 2014
    Business & Finance, Equipment

    CAMAC Energy’s subsidiary CAMAC Energy Gambia has awarded a contract for the acquisition of a 3D seismic survey offshore Gambia to Polarcus Limited. The survey will cover approximately 1,504 km2 in the company’s A2 and A5 blocks. CAMAC says that the objectives of the seismic survey are to enhance the definition and maturation of potential […]

  • 9 December 2013
    Business & Finance

    Northern Offshore, Ltd. today announced that the company has executed a letter of intent with CAMAC International Limited, an affiliate of CAMAC Energy Inc. , for the drillship Energy Searcher.   The letter of intent, which is subject to customary conditions, provides for a subsidiary of Northern Offshore to work towards executing a definitive drilling […]

  • 9 June 2011
    Business & Finance

    CAMAC Energy Inc., a U.S.-based energy company engaged in the exploration, development and production of oil and gas, announced today the closure of the $25 million term credit facility with Allied Energy, Plc, which credit facility was originally announced by the Company on March 10, 2011. CAMAC Energy has received the full $25 million from […]

  • 16 May 2012
    Business & Finance

    CAMAC Energy Inc. (NYSE Amex: CAK) today announced that it has signed Production Sharing Contracts (“PSCs”) with the government of The Republic of Kenya for previously awarded exploration Blocks L1B, located onshore in the Lamu Basin, and L16, located in the Lamu Basin transition zone. Block L16 is bordered on the east by Block L8, […]

  • 30 May 2012
    Business & Finance

    CAMAC Energy Inc. today announced that it has signed Petroleum Exploration, Development & Production Licenses with The Gambia for two previously awarded offshore exploration blocks, A2 and A5 (“the Blocks”). The Blocks, which are contiguous, cover a combined area of approximately 2,666 square kilometers and are located in water depths of between 600 and 1,000 […]

  • 19 February 2014
    Business & Finance, Operations & Maintenance, Project & Tenders

    CAMAC Energy Inc. has signed a long-term contract for the floating, production, storage, and offloading vessel (“FPSO”) Armada Perdana. The contract provides for an initial term of five years beginning January 1, 2014, with an automatic extension for an additional two years unless terminated by CAMAC with prior notice. The Company plans to utilize the […]

  • 8 September 2014
    Business & Finance

    CAMAC Energy Inc. announced that its wholly owned subsidiary, CAMAC Petroleum Limited, has entered into a credit facility with Zenith Bank Plc for a five-year senior secured term loan providing initial borrowing capacity of up to $100 million. U.S. dollar borrowings under the term loan facility will bear interest at the rate of LIBOR plus […]

  • 8 September 2014
    Business & Finance

    CAMAC Energy Inc. announced today that its wholly owned subsidiary, CAMAC Petroleum Limited, has entered into a credit facility with Zenith Bank Plc for a five-year senior secured term loan providing initial borrowing capacity of up to $100 million. U.S. dollar borrowings under the term loan facility will bear interest at the rate of LIBOR […]

  • 3 September 2014
    Business & Finance, Equipment

    CAMAC Energy Inc. has announced today that its wholly owned subsidiary, CAMAC Energy Kenya Limited, has awarded seismic contracts for the acquisition of 2D seismic surveys on Block L1B onshore Kenya, and Block L16 partly onshore and partly offshore Kenya. The contract awards are each subject to negotiation and signing of a definitive agreement for […]

  • 13 April 2011
    Business & Finance

      CAMAC Energy Inc. , a U.S.-based energy company engaged in the exploration, development and production of oil and gas, announced today the results of an independent engineering report prepared by Netherland, Sewell & Associates, Inc. (NSAI) estimating the total resource in place in CAMAC Energy’s OML 120 & 121 Blocks situated offshore Nigeria. NSAI’s […]

  • 1 April 2014

    CAMAC Energy Inc. announced today that Kase L. Lawal, Chairman and Chief Executive Officer, has adopted a trading plan in accordance with the guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934, to purchase up to two million shares in the open market at prevailing market prices and subject to conditions and […]

  • 26 January 2011
    Business & Finance, Project & Tenders

    CAMAC Energy Inc. , a U.S.-based energy company engaged in the exploration, development and production of oil and gas,  announced that the well intervention operation on the Oyo #5 well, located in the Oyo Field located offshore Nigeria, which commenced in December 2010 to reduce the gas production from the well, has been successfully completed. […]

  • 9 January 2014
    Business & Finance

    CAMAC Energy Inc. (“CAMAC”) announced that a letter of intent (“LOI”) has been signed regarding terms and conditions of a long-term agreement for the floating, production, storage, and offloading system (“FPSO”) ARMADA PERDANA. The signed LOI provides for an initial term of five years beginning January 1, 2014, with an automatic extension for an additional […]

  • 8 January 2014
    Business & Finance

    CAMAC Energy Inc. today announced that a letter of intent (“LOI”) has been signed regarding terms and conditions of a long-term agreement for the floating, production, storage, and offloading system (“FPSO”) ARMADA PERDANA. The signed LOI provides for an initial term of five years beginning January 1, 2014, with an automatic extension for an additional […]

  • 20 November 2013
    Business & Finance

    CAMAC Energy Inc.  today announced that it has entered into a definitive agreement to acquire the remaining economic interests that it does not currently own in the production sharing contract covering Oil Mining Leases 120 and 121 (the “OMLs”) offshore Nigeria, which include the currently producing Oyo Field, from Allied Energy Plc (“Allied”). Allied is […]