CAMAC Energy has confirmed plans to begin drilling for oil in its allocated oil blocks in the Gambia by 2016, reports said on Saturday. CAMAC Energy is the only company still in possession of a liecense to prospect for The Gambia’s hydrocarbon resources.
For 2014 CAMAC Energy is reprocessing existing 2D Seismic and a regional geologic study and possible 3D Seismic survey are also planned, the energy firm said in a statement.
The US-based group which is currently making headlines for the progress of its operations and interests in Nigeria, Ghana and Kenya, also promised to aquire a three-dimension (3D) Seismic Survey of its licensed oil blocks in The Gambia by 2015.
CAMAC Energy signed an agreement for Petroleum Exploration and Productions Licenses for offshore Blocks A2 and A5 with the government two years ago.
CAMAC Energy Inc. is an independent oil and gas exploration and production company focused on energy resources in Africa. Its asset portfolio consists of 9 licenses across 4 countries covering an area of 43,000 square kilometers (approximately 10 million acres), including production and other projects offshore Nigeria, as well as exploration licenses offshore Ghana, Kenya and Gambia, and onshore Kenya. CAMAC Energy is headquartered in Houston, Texas, and is listed on the New York Stock Exchange under the ticker symbol CAK, and on the Johannesburg Stock Exchange under the ticker symbol CME.
( Courtesy CAMAC & AGENCIES ……… Source ……… NEW AFRICA BUSINESS NEWS)