Camac Energy says preliminary Nigeria well results top expectations

|By:, SA News Editor

Camac Energy (CAK +15.2%) says preliminary results show its deepwater Oyo-7 development probe off Nigeria has hit more oil and less gas pay than expected.

The well encountered net oil pay of 115 feet and net gas pay of 93 feet in the gas cap from the currently producing Pliocene reservoir, with excellent reservoir quality.