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Stock Market & Financial Investment News

News Breaks
June 16, 2014
08:19 EDTCAKCAMAC spuds Oyo-8 development well offshore Nigeria
CAMAC announced that the Oyo-8 development well was spudded on June 15. The Oyo-8 well is located offshore Nigeria in OML 120, where CAMAC Energy is the operator and owns a 100% working interest. This development well lies within the Oyo field, which was one of the first deepwater oil discoveries made in Nigeria. The Oyo field is located approximately 75 kilometers offshore Nigeria in water depths of approximately 300 meters. Oyo-8 will be drilled by the Northern Offshore Energy Searcher drillship to a total depth of approximately 1,800 meters in water depths of approximately 310 meters, and will produce from the Pliocene reservoir. The Oyo-8 well is expected to commence production in the fourth quarter and, together with the Oyo-7 well which will be completed subsequent to the Oyo-8 well, is expected to significantly increase production from the Oyo Field.
News For CAK From The Last 14 Days
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September 30, 2014
08:02 EDTCAKCAMAC reports Energy Searcher drillship activities resumed
CAMAC Energy announced that the suspended rig activities of the Energy Searcher drillship have now resumed, and the technical problem with the drillship's blow out preventer, or BOP, control hoses has now been resolved. New hoses have been installed, and the BOP is fully function tested.
September 29, 2014
12:44 EDTCAKCAMAC management to meet with Sterne Agee
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10:28 EDTCAKCAMAC management to meet with Brean Capital
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07:15 EDTCAKCAMAC announces increase in recoverable prospective resources offshore Nigeria
CAMAC Energy announced that an updated independent assessment of the company's prospective resources for four offshore Nigeria prospects located within Oil Mining Leases 120 and 121 by DeGolyer and MacNaughton has increased the company's unrisked P50 recoverable resources from 537M barrels of oil to 2,377 MMbbl in four of its top exploration prospects.

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