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Stock Market & Financial Investment News

News Breaks
August 4, 2014
08:05 EDTCAKCAMAC discovers multiple oil, gas reservoirs
CAMAC Energy announced the preliminary results of a successful Oyo field development well offshore Nigeria in OML 120. The Oyo-8 well commenced drilling operations on June 15 and has both a vertical and a horizontal section. The vertical section was designed to test for additional hydrocarbons in the previously undrilled Eastern fault block of the Oyo field. CAMAC Energy is pleased to announce Oyo-8 was drilled to a total depth of 6,059 feet, and successfully encountered four new oil and gas reservoirs with total gross hydrocarbon thickness of 112 feet based on results from the logging-while-drilling data, reservoir pressure measurement, and reservoir fluid sampling. The well will now be completed horizontally as a producing well in the Pliocene formation of the Central Oyo field. Oyo-7, which was successfully drilled in October 2013, will also be completed horizontally in the Pliocene formation of the Central 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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