Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Got an answer from Chris Heath today to a general inquiry I'd made - trolling for new information. He said much the same as last month, but I appreciate the continued assurance:
Hi David. A timeline of our drilling program is detailed in the Investor Presentation which can be found online at www.camacenergy.com under the Investors tab.
Once Oyo-8 has been successfully drilled, we will announce the success, amount of net oil pay, etc. similar to the Oyo-7 announcement.
We received shareholder approval for a reverse split on May 29, but have no immediate plans for it. If we were to ever do it, I would think it would be in conjunction with a positive announcement regarding improving fundamentals such as new production coming online, etc.
Hope this helps.
Chris
This evening a family of four skunks crossed my property just as the sun went down. They didn't hesitate, but headed straight down the lakeshore to my neighbor's place.
I take that to be a powerful sign of good luck... hope this extends to your August calls.
Go CAK!
Advice from my Dad on making my way in the World: "Go hard! Go deep! Stay in there 'til the job is done!"
Advice to my Son on his wedding day: "Go hard! Go deep! Stay in there 'til the job is done!"
Advice to CAMAC on the Oyo Field Project: "Go hard! Go deep! Stay in there 'til the job is done!"
The Ox is slow, but the Earth is patient.
Waiting is tough - I wish CAMAC was a little better at reporting on their progress from week to week. Hope we get a PR soon.
Let me see if I understand this... An error in reporting earnings was discovered, and promptly reported as required by law. The mistake, once corrected will improve the earnings reported. That's a good thing.
Legal advocates for the shareholders have announced action to insure that shareholders are compensated for any losses. Thank you.
Now what part of that says, "DUMP YOUR SHARES! THE SKY IS FALLING!"
Thanks for the cheap shares - I picked up a couple thousand more.
Holding CAMAC 'til the cows come home!
Since April 3, 2014 Kase Lawal made 18 purchases of CAMAC stock totaling 663,742 shares.
FYI
Very encouraging! Thanks for the info NonGolfer. My hopes have been focused on $5-$7 per share - I like your estimate much better.
Interesting you should mention acquisition - I've got this gut feeling...
We've got a lot going for us! The CEO Kase Lawal is well known and respected in global business & political communities. Many eyes in Africa and America are on this emerging leader who's personal achievements, and passion for mentoring young business people have garnered much notice.
Due to his background Mr. Lawal is uniquely suited to navigate the ups and downs of doing business in Africa. The company has made it's goals clear, and has a proven record of achieving same. Drilling has begun on OYO #8 all but guarantying a stong PR soon, which will take this company, and it's share price to the next level. Shortly after that will be OYO #7.
One of the things that originally got my attention on CAK was the history of insider stock purchases. Since April '14 there has been a marked increase of insider purchases. The share price has recently tested it's bottom (probably due to profit taking by the PIC). Now on the rise - CAK is showing signs of renewed strength.
All along CAMAC has demonstrated a deep concern for it's shareholder interests - providing excellent return for my investment dollars. I will be very surprised if we are not trading in the dollars very soon.
One of the exciting things is that feeling I get... that many investors are just beginning to notice what we already know!
GLTA! Long on CAMAC!
Kase Lawal bought 55,000 more shares on 5/19/14.
Since April 3, 2014 he's made 12 purchases totaling 538,836 shares.
He currently owns 6,301,300 shares of CAK.
fyi
Yup! I was here for Cambertire (and long before) - have followed your story Carlson, and always figured you were a pretty good person. I really appreciate the upbeat nature of your posts. I don't say much any more, but always follow the chatter about CBYI. There are several people here whose posts I don't read anymore - the constant criticism and belittling of others I see no value in.
I hope you have the patience to stick this out - really believe you'll see good profit. In the meantime maybe you are taking this opportunity to flip a few shares - I've been doing good with this in recent weeks. Good luck to us all - this is shaping up nicely. Go CBYI!
I don't doubt where this stock is going. With two strong PRs on the horizon (Oyo #7 & #8) and the near term potential for increasing production from 2,000 to 14,000 barrels this stock is well positioned.
My boat is loaded for the next leg up - I expect big things here in the coming months. Not worried about talk of a split. It might be the best plan for getting CAK to a level that attracts larger investors.
The big guy is still buying!!
Updated Insider Transaction History for CAMAC ENERGY (CAK):
5/9/14 Lawal Kase Lukman
Chief Executive Officer Purchased 50,000 shares $32.5 K
4/25/14 Lawal Kase Lukman
Chief Executive Officer Purchased 9,000 shares $6.1 K
4/24/14 Lawal Kase Lukman
Chief Executive Officer Purchased 6,454 shares $4.6 K
4/22/14 Lawal Kase Lukman
Chief Executive Officer Purchased 10,976 shares $7.8 K
4/21/14 Lawal Kase Lukman
Chief Executive Officer Purchased 150,000 shares $96.9 K
4/15/14 Lawal Kase Lukman
Chief Executive Officer Purchased 50,000 shares $37.1 K
4/14/14 Lawal Kase Lukman
Chief Executive Officer Purchased 50,000 shares $39.8 K
4/9/14 Lawal Kase Lukman
Chief Executive Officer Purchased 25,000 shares $20.5 K
4/7/14 Lawal Kase Lukman
Chief Executive Officer Purchased 32,406 shares $26.2 K
4/4/14 Lawal Kase Lukman
Chief Executive Officer Purchased 50,000 shares $38.8 K
4/3/14 Lawal Kase Lukman
Chief Executive Officer Purchased 50,000 shares $39.3 K
Me too!
Insider Transaction History for CAMAC ENERGY (CAK):
4/25/14 Lawal Kase Lukman
Chief Executive Officer Purchased 9,000 shares $6.1 K
4/24/14 Lawal Kase Lukman
Chief Executive Officer Purchased 6,454 shares $4.6 K
4/22/14 Lawal Kase Lukman
Chief Executive Officer Purchased 10,976 shares $7.8 K
4/21/14 Lawal Kase Lukman
Chief Executive Officer Purchased 150,000 shares $96.9 K
4/15/14 Lawal Kase Lukman
Chief Executive Officer Purchased 50,000 shares $37.1 K
4/14/14 Lawal Kase Lukman
Chief Executive Officer Purchased 50,000 shares $39.8 K
4/9/14 Lawal Kase Lukman
Chief Executive Officer Purchased 25,000 shares $20.5 K
4/7/14 Lawal Kase Lukman
Chief Executive Officer Purchased 32,406 shares $26.2 K
4/4/14 Lawal Kase Lukman
Chief Executive Officer Purchased 50,000 shares $38.8 K
4/3/14 Lawal Kase Lukman
Chief Executive Officer Purchased 50,000 shares $39.3 K
Thanks
My bad - it is Walter Nicholas, not Nicholas Walter.
Isn't his name Nicholas Walter? And aren't you kind of exploring the boundary of good manners?
I never tried these, but we had a large array of supplies and tools of assorted sizes and shapes.
Actually No. Many of us have done well on CBYI. If you're looking for penny stocks with steady enduring growth you probably should switch to blue chips. Most penny stocks go up suddenly and then go down - we understand that. I don't see any value in you saying it over and over.
WELL SAID!
The company I worked for was just beginning to use a similar retrieval system when I retired. They are highly adaptable.
Yeah, stupid stock only went up 4,900%
Beauty is in the eye of the beholder, my friend
I agree Carlson - when she starts posting, I start makin' money.
PS. Have followed your plight Carlson - glad CBYI is giving you another bump.
I've had a few 100% flips since I got into Cal-Bay in 2011, then there was last year's whopping 4000% gain, and last week I sold a few for 1100% gain, and still holding millions.
Pawson or no Pawson makes no difference to me - If you can give me gains like these I'm probably going to own your stock.
Very excited about the coming weeks - I really like the way this is shaping up. Believe we'll see some turbulence as the shareholders that had bad luck from the Camber Tire days finally get their chance to sell (this is only fair), but IMO the momentum CBYI could have going up would mitigate these bumps.
It's great seeing this play come back again. Remember to sell a few along the way to cover your butt - hang on to the rest and hope for a great run! Sincere good luck to all!
You know, some days are just better than others. Man I love this stock! Hoping for .90 by Friday. GLTA!
Thanks Hugh for all the quality information you bring to the board. I'm inclined to think any criticism from the underground press might be due to the not-so-stable political climate in Nigeria.
Since CAMAC energy represents significant offshore interests (us) it's important their operations are not effected by political change. In my opinion the listing on the Johannesburg exchange will give all Nigerians, and Africans in general, a vested interest in protecting CAMAC's operations.
This move on the part of CAMAC management is another sign that CAK is preparing to claim their place as a global energy giant.
I'm pleased with the handling of the share distribution and their continued concern about protecting shareholder interests.
Feeling very encouraged this day! GLTA
So there's life in the old girl yet...
Still here sitting on a few million shares saved from the last 4000%+ jump. Still long and ready for the next wild ride.
I agree with this and your previous post complimenting the management at CAK. I feel certain there will be a significant drop in pps when the dividend is issued - it's only to be expected. The dividend is our compensation for that adjustment. I really appreciate the management at CAMAC for their efforts to keep us informed and the considerable steps taken to protect the shareholders during this change.
I expect a quick recovery aided by the increased exposure we receive being listed on the Johannesburg exchange and aligned with the public investment corp.
I view a dip as a good chance to add shares to my already considerable collection. Any turbulence is of little concern to me - I like everything about this company and their business plan. IMO the days of buying shares here under $5 are becoming very few.
Long on CAMAC and best of luck to us all!
WELCOME GUITARMANLIFE! Good to have a new voice here. I got in a few months ago and it's been a great ride.
Lots of hopeful changes coming in the near future. I think we'll see some turbulence through the coming dividend, and pending listing on the Johannesburg exchange, but personally I feel confident about where CAMAC is headed. This company has a promising future as a member of the global energy community.
GLTA! Go CAMAC!
I agree whole heartedly! The potential here is impressive. I'm very excited to see what the next few months bring - can't wait to see where the changes take us. With the next PR we should start kissing $2. Go CAK!
This is a fantastic opportunity - strong company, solid business plan, a track record of exceeding our expectations, a management dream team with experience in going global. Soon to be listed on the Johannesburg exchange.
Get your boat full while shares are cheap - IMO 2014 is going to be a stellar year for CAK!
"We are honored that the PIC has placed their trust and confidence in us by investing in our organization," said Chairman and Chief Executive Officer of CAMAC Energy, Dr. Kase Lawal. "The Allied acquisition, investment by the PIC and secondary listing on the JSE will completely change the complexion of our Company, and we look forward to beginning 2014 as a stronger organization with increased production, revenues and scale. Being dual-listed on the NYSE and JSE will provide increased liquidity and transparency for our shareholders. With 100% economic ownership of our high-impact, deepwater offshore assets, we will be well positioned to pursue our goal of producing approximately 14,000 barrels of oil per day once Oyo-7 and Oyo-8 are completed next year."
"2014 will be a transformational and exciting year for CAMAC as we focus on bringing our attractive portfolio of investment opportunities to production and begin generating significant cash flow," said Chairman and CEO Kase Lawal. January 8, 2014
http://ih.advfn.com/p.php?pid=nmona&article=60590739
After 32 years working for a one of the largest aircraft manufacturers I grew to respect their attention to stockholder concerns and their efforts to protect the stockholder's interests.
I'm encouraged to see these same traits in CAK and believe they are another sign that CAK is preparing to claim their place as a global energy giant.
This excerpt from the Definitive Proxy Statement is a good example of what I mean:
Fairness Opinion
Canaccord Genuity Limited (“Canaccord Genuity”) acted as financial advisor to the special committee of the board in connection with the Acquisition and the Private Placement. The special committee requested that Canaccord Genuity evaluate the fairness, from a financial point of view, to the Company and its stockholders (other than Allied and its affiliates), of certain financial terms of the Acquisition and the concurrent Private Placement. At a meeting of the special committee held on November 18, 2013, Canaccord Genuity rendered its oral opinion, which opinion was confirmed by delivery of a written opinion dated November 18, 2013, that, as of that date and based upon and subject to certain assumptions, factors and qualifications set forth in the written opinion, each of (a) the sale of the shares of common stock to PIC pursuant to the Share Purchase Agreement; (b) the acquisition consideration to be paid by the Company for the Assets pursuant to the Transfer Agreement; and (c) taken as a whole with the Stock Dividend, the sale by the Company of the shares to PIC and the payment of the acquisition consideration to Allied in the Transactions, is fair, from a financial point of view, to the Company and its stockholders (other than Allied and its affiliates). For more information regarding Canaccord Genuity’s fairness opinion, see “Special Factors — Opinion of Canaccord Genuity.”
http://www.sec.gov/Archives/edgar/data/1402281/000119312514002033/d643046ddef14a.htm
Good job on this - Thanks for the insight.
I agree! Got a nice little CAK collection and am really excited about 2014. Long on CAK. GLTA!
Good solid answer. Thanks for your time & help, sir!
Would appreciate some help if anyone understands how being listed on the Johannesburg exchange will effect our pps. Can anyone help me understand what to expect?
Nice little buying opportunity here. I added on the last dip and couldn't resist picking up another 1000 today. This little stock has been so predictable and well mannered, it's fast becoming a favorite. I know - don't fall in love with a stock.
HAPPY NEW YEAR EVERYONE! Here's to your good health, joy, peace... and a touch of prosperity in 2014!
I'll be adding to my collection this morning. Don't mind these dips at all. I feel very confident about where CAK is headed.
All things come to those who wait.
Long on CAK