Camac Energy +7.3% as 2014 production exit rate seen at 14K bbl/day

|By:, SA News Editor

In an operational update, Camac Energy (CAK +7.3%) provides 2014 year-end production exit rate guidance of 14K bbl/day, as two wells at the Oyo field offshore Nigeria continue to be on track to begin production this year.

The Northern Offshore Energy Searcher drillship is awaiting final clearance by the Nigerian government to start drilling operations at Oyo; CAK says approval is imminent.

CAK also says it received parliamentary ratification of its petroleum agreement related to the Expanded Shallow Water Tano Block in Ghana.