CAMAC Energy Inc. announced that Sander Geophysics Limited has completed shooting airborne gravity and magnetic geophysical surveys on the Company's Kenya onshore Lamu Basin Blocks L1B and L16. The data acquisition covers essentially the entire 4,683 square miles (12,129 square kilometers) in Block L1B and the entire 1,395 square miles (3,613 square kilometers) in Block L16 and satisfies the gravity and magnetic survey requirements for each Block under the relevant Production Sharing Agreements.
The Company expects to receive initial results of the shoot in the third quarter of 2013. Results will be used to optimize the placement of 2-D seismic lines by identifying faults, basement structures and intra-sedimentary volcanic layers and/or intrusions.
"I am pleased that we completed the acquisition of the airborne gravity and magnetic geophysical surveys in Kenya safely, on time, and under budget," said Senior Vice President of Exploration and Production Segun Omidele. "Our geophysical team will now work with SGL to interpret the data and delineate optimal areas for 2-D seismic acquisition."
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