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CAMAC Energy Secures Long-Term FPSO
CAMAC Energy Inc. ("CAMAC") (NYSE MKT: CAK) 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 term of two years unless terminated by CAMAC with prior notice. The parties are working towards executing a definitive agreement on or before January 31, 2014.

date.png16 Jan 2014 07:45 | comments.png 0 Comments | tags.png africa bumi-armada camac fpso nigeria services [ More ]

CAMAC Energy Awarded Two Offshore Exploration Blocks in Gambia
—CAMAC Energy Inc. (NYSE Amex: CAK), a U.S.-based energy company engaged in the exploration, development and production of oil and gas, today announced that it has entered into an agreement with the Gambian Ministry of Petroleum (on behalf of the Government of the Republic of The Gambia) on the provisional award of two offshore exploration blocks, A2 and A5, in water depths of between 600-1,000 meters. CAMAC Energy will be the operator with 85% interest in the blocks, which cover a total surface area of 2,666 square kilometers.

date.png23 Jan 2012 18:21 | comments.png 0 Comments | tags.png africa camac gambia upstream [ More ]
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