Replies to post #66 on Erin Energy Corp (ERINQ)

[OilStockReport]

DD is always a good thing. Here is a little more.

HOUSTON--(BUSINESS WIRE)-- CAMAC Energy Inc. (NYSE Amex: CAK), a U.S.-based energy company engaged in the exploration, development and production of oil and gas, announced today the results of an independent engineering report prepared by Netherland, Sewell & Associates, Inc. (NSAI) estimating the total resource in place in CAMAC Energy's OML 120 & 121 Blocks situated offshore Nigeria.

NSAI’s report concludes that the best estimate for gross (100%) undiscovered original oil-in-place for OML 120 & 121 is 1.9 billion barrels with a high of 6.3 billion barrels; and the best estimate for associated recoverable gross contingent and unrisked prospective oil resources is 626 million barrels with a high of 2.2 billion barrels. This is significantly higher than the estimated 500 million barrels of potential recoverable oil detailed in the Company’s recent investor presentation.

"We are pleased to receive this report on resources for the OML 120 & 121 Blocks," said Dr. Kase Lawal, Chairman and Chief Executive of CAMAC Energy. "This report clearly supports the potential we see in the two blocks and we are excited about the results. OML 120 & 121 are in a known hydrocarbon province, have existing production, extensive 3D seismic coverage and over a dozen identified prospects and leads. Together with ENI, the technical operator of OML 120 & 121, we will now work towards testing the greater potential of this play, including the deeper Miocene zone."

The NSAI report, which contains further information and qualifications, can be found on CAMAC Energy's website at www.camacenergy.com in the Investor Relations section.

About CAMAC Energy Inc.

CAMAC Energy Inc. (NYSE Amex: CAK) is a U.S.-based energy company engaged in the exploration, development and production of oil and gas. The Company currently has operations in Nigeria and, through its Pacific Asia Petroleum subsidiaries, in China. The Company's principal assets include interests in OML 120 and OML 121, offshore oil leases in deepwater Nigeria that started production from the Oyo Oilfield in December 2009, and a 100% interest in the Zijinshan Block gas asset located in the Shanxi Province, China. The Company was founded in 2005 and has offices in Houston, Texas, Beijing, China, and Lagos, Nigeria.

Forward-Looking Statements

This press release may contain certain “forward-looking statements” relating to the business of CAMAC Energy Inc. and its subsidiaries. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the prospectivity and potential value of the OML 120/121 blocks; the general ability of CAMAC Energy Inc. to achieve its commercial objectives; the business strategy, plans and objectives of CAMAC Energy Inc. and its subsidiaries; and any other statements of non-historical information. Words such as “anticipates,” “expects,” “plans,” “projects,” “believes,” “seeks,” “estimates,” and similar expressions are intended to identify such forward-looking statements. The statements are based upon management’s current expectations, estimates and projections, are not guarantees of future performance, and are subject to a variety of risks, uncertainties and other factors, some of which are beyond CAMAC Energy Inc.’s control and are difficult to predict, including those discussed in CAMAC Energy Inc.'s periodic reports that are filed with the “SEC”) and available on its website (www.sec.gov). You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, CAMAC Energy Inc. undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.