HOUSTON, TX--(Marketwired - Oct 16, 2013) - CAMAC Energy, Inc. (
"We are highly encouraged by these preliminary net pay results in the Pliocene reservoir, which is the primary objective of the well," said Dr. Kase Lawal, Chairman and CEO of CAMAC Energy. "Not only have we confirmed net oil pay results that exceed our internal expectations, but a smaller than expected gas column was also penetrated. As a result, we expect improved oil production from the horizontal section. I am proud of the technical teams at both Allied Energy and CAMAC Energy for our successful drilling operations, and look forward to updating shareholders as we complete drilling and evaluation of the deep Miocene reservoir."
About CAMAC Energy
CAMAC Energy, Inc. (
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, concerning activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Although the Company believes the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The Company's actual results could differ materially from those anticipated in these forward-looking statements due to a variety of factors, including the Company's ability to successfully drill, complete, test and produce the wells and prospects identified in this release and risk factors discussed in the Company's periodic reports filed with the Securities and Exchange Commission. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. You should not place undue reliance on forward-looking statements, which speak only as of their respective dates. The Company undertakes no duty to update these forward-looking statements.
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