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

  • 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.
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