Search results for: Camac Energy

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  • 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 […]

  • 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 […]

  • 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 […]

  • 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 […]

  • 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 […]

  • 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 […]

  • 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 […]

  • 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 […]

  • 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 […]

  • 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, […]

  • 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 […]

  • 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. […]

  • 8 April 2011

      CAMAC Energy announces the spudding and progress of its ZJS-3 well in China. Drilling is expected to take between 40 and 60 days to reach the well’s target depth of between 4,500 and 5,500 feet. Currently the penetrating depth is 3,300 feet drilled towards the main target formations. Mud logs have already shown gas […]

  • 4 May 2011
    Business & Finance

    CAMAC Energy Inc. , a U.S.-based energy company engaged in the exploration, development and production of oil and gas, announced a net loss of $28.2 million, or $0.18 per diluted share for the quarter ended March 31, 2011. This loss includes the remaining estimated Oyo well #5 intervention expenses of $24.4 million, or $0.16 per […]

  • 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 […]

  • 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 […]

  • 24 February 2014
    Business & Finance

    CAMAC Energy Inc. announced that it has 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 (the “OMLs”) offshore Nigeria, which include the currently producing Oyo Field, from Allied Energy Plc. CAMAC Energy now has operatorship and a 100% […]

  • 24 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 the Company has entered into definitive agreements dated December 21, 2010 with certain accredited investors (the “Investors”) to sell in a registered direct offering an aggregate of approximately 9.32 million shares of its common […]

  • 13 April 2011

    CAMAC Energy Inc., 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 Lawal as CEO. […]

  • 15 January 2014
    Business & Finance

    Camac Energy said that it has signed a long-term drilling contract with Northern Offshore for the drillship Energy Searcher.  The rig is expected to be delivered to the Oyo Field in OML 120 offshore Nigeria to commence drilling activities in the first half of 2014. The signed agreement covers an initial period of one year, with […]