Last $0.63 USD
Change Today -0.01 / -1.56%
Volume 424.8K
CAK On Other Exchanges
As of 8:04 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

camac energy inc (CAK) Snapshot

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03/18/14 - $0.91
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08/13/13 - $0.25
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camac energy inc (CAK) Details

CAMAC Energy operates as an independent oil and gas exploration and production company focused on energy resources in Africa. Its asset portfolio consists of 9 licenses covering an area of 43,000 square kilometers, including existing production and other exploration projects offshore Nigeria; and exploration licenses offshore Ghana, Kenya, and Gambia, as well as onshore Kenya. The company was formerly known as Pacific Asia Petroleum, Inc. and changed its name to CAMAC Energy, Inc. in April 2010. The company was founded in 2005 and is headquartered in Houston, Texas. CAMAC Energy, Inc. is a subsidiary of CAMAC Energy Holdings Limited.

47 Employees
Last Reported Date: 03/14/14
Founded in 2005

camac energy inc (CAK) Top Compensated Officers

Founder, Executive Chairman, Chief Executive ...
Total Annual Compensation: --
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $387.1K
Senior Vice President of Exploration & Produc...
Total Annual Compensation: $486.8K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $462.8K
Chief Administrative Officer and Senior Vice ...
Total Annual Compensation: $291.7K
Compensation as of Fiscal Year 2013.

camac energy inc (CAK) Key Developments

Camac Energy Incorporated Announces Unaudited Consolidate Earnings Results for the First Quarter Ended March 31, 2014

Camac Energy Incorporated announced unaudited consolidate earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported oil and gas revenue of $19,894,000 against $22,006,000 a year ago. Operating loss was $14,683,000 against $10,484,000 a year ago. Loss before income taxes was $14,858,000 against $10,488,000 a year ago. Net loss was $14,858,000 against $10,488,000 a year ago. Diluted net loss per common share was $0.02 against $0.03 a year ago. Net cash used in operating activities was $3,772,000 against $2,713,000 a year ago. Capital expenditures were $2,050,000 against $352,000 a year ago.

CAMAC Energy Expands Local Drilling Project

CAMAC Energy announced plans to drill some exploration wells locally in the next three years. The drills will be conducted on blocks L1B and L16 in the next two years as well as in Block L27 or L28 by the year 2017. On the two blocks, Camac is now preparing to shoot 2D seismic with the results from the 2D interpretation planned to be used to outline the location for a 3D seismic acquisition in 2014/2015. On the offshore blocks L27/L28 the company has completed acquisition of multi-client 2D seismic in March 2014 which is being processed by WesternGeco, a Schlumberger company with the next step being to conduct a Geological and Geophysical Study.

CAMAC Energy, Inc. Announces Retirement of J. Kent Friedman as Director

On May 29, 2014, following the 2014 annual meeting of the stockholders of CAMAC Energy Inc., J. Kent Friedman, one of the Company's directors, notified the Company's Board of Directors that he would retire from the Board effective as of May 30, 2014. Mr. Friedman has confirmed that his retirement as a director is not the result of any disagreement with the Company.


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Price/Sales 74.0x
Price/Book 2.4x
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