SOURCE: CAMAC Energy Inc.
HOUSTON, TX--(Marketwired - Feb 21, 2014) - CAMAC Energy Inc. (NYSE MKT: CAK) announced today that it has received the first tranche of funding from the Public Investment Corporation (SOC) Limited ("PIC") of South Africa in the amount of $135 million in accordance with the terms of the definitive agreement. In connection with the investment by the PIC, and in addition to its current listing on the New York Stock Exchange, the Company will also begin trading on the Johannesburg Stock Exchange ("JSE") on Monday, February 24, 2014.
"We are pleased to announce the first closing of this investment, and look forward to developing a long-term and profitable relationship with the PIC and its constituents," said Chairman and Chief Executive Officer Kase Lawal.
About CAMAC Energy
CAMAC Energy is an independent oil and gas exploration and production company focused on energy resources in Africa. Its asset portfolio consists of 8 production and exploration licenses in 3 countries covering an area of 41,000 square kilometers (~10 million acres), including existing production and other major projects offshore Nigeria, as well as exploration licenses with significant hydrocarbon potential onshore and offshore Kenya, and offshore Gambia. CAMAC Energy is headquartered in Houston, Texas and is listed on the New York Stock Exchange. For more information, visit www.camacenergy.com.
1330 Post Oak Blvd., Suite 2250
Houston, TX 77056