CAMAC Energy, Inc. (CAK)
CAMAC Energy Inc. (NYSE Amex: CAK) is a U.S.-based energy company engaged in the exploration, development, production and distribution of oil and gas. The Company focuses on early cash flow and high-return global energy projects and currently has operations in Nigeria and, through its Pacific Asia Petroleum subsidiaries, in China. The Company's principal assets include interests in the Oyo Oilfield, located about 75 miles off the Southern Nigerian Coast in deep water (200 - 500 meters). The Oyo Oilfield started production in December 2009. The field's operating contractor and other interest holder is Nigerian Agip Exploration Ltd, a subsidiary of Italy's ENI SpA. In China, the Company is the 100% interest owner and operator of the Zijinshan CBM gas asset located in Shanxi Province. Drilling operations in the Zijinshan gas asset commenced in 2009 under a multi-well program. The Company's Enhanced Oil Recovery and Production ("EORP") business, located in Northern China, started operations and began generating revenue in 2009. The Company was founded in 2005 and was formerly known as Pacific Asia Petroleum, Inc. The Company is headquartered in Hartsdale, New York and has an office in Beijing, China.
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