Allied Energy Hires Halliburton as Consultant for Oyo Well

CAMAC Energy Inc. announced that Allied Energy PLC, an affiliate of the Company's largest shareholder and the operator of its Nigerian deep water blocks, OML 120 and OML 121, has engaged Halliburton Energy Services Inc. as consultant for the drilling of Oyo #7 well currently scheduled to spud in the first quarter of 2013.

Halliburton is one of the world's largest providers of products and services to the global energy industry, serving the upstream oil and gas industry throughout the lifecycle of the reservoir in approximately 80 countries. Halliburton will provide a study to assess the feasibility, complexity and operational risk associated with successfully drilling and completing Oyo well #7 as currently proposed. Halliburton will also provide ideas for alternative configurations of the well that could both reduce risk and cost while achieving the objectives of testing the exploration target in the Miocene and producing from the currently producing Pliocene sands.

"Adding Halliburton to the project team for Oyo well #7 is an important step in ensuring its ultimate success," said Senior Vice President of Exploration and Production, Segun Omidele. "We are confident that Halliburton's experienced, integrated, and multi-disciplinary team will provide the intellectual resources necessary to design and implement the most optimal drilling and completion solution."