CAMAC Energy Inc. Announces New Rig Assignment Date for Oyo #7 Well

     CAMAC Energy Inc. Announces New Rig Assignment Date for Oyo #7 Well

  PR Newswire

  HOUSTON, July 15, 2013

HOUSTON, July 15, 2013 /PRNewswire/ -- CAMAC Energy Inc . (NYSE MKT: CAK)
("the Company") today announced that Allied Energy PLC ("Allied") has received
notification of the new proposed assignment date of the Sedneth 701 rig under
its previously announced Deed of Assignment with Transocean Ltd.
("Transocean") and Nigerian Petroleum Development Corporation Limited
("NPDC"). According to the notification from NPDC, the proposed date of
assignment has been changed to July 31, 2013 in order to accomodate the
completion of NPDC's ongoing drilling operations. NPDC will assign the rig to
Allied for a term of sixty days, during which Transocean personnel will
continue to operate.

"We are pleased to receive notification of the new proposed assignment date
for the Sedneth 701 rig," said Senior Vice President of Exploration and
Production, Segun Omidele. "Due to our extensive work to date, we are prepared
to begin drilling operations for the Oyo well #7as soon as the rig is
assigned with the objectives of increasing production from the Pliocene and
exploring the potential of the deeper Miocene."

About CAMAC Energy Inc.

CAMAC Energy Inc . (NYSE MKT:CAK) is a U.S.-based energy company engaged in
the exploration, development and production of oil and gas.The Company's
principal assets include interests in OML 120 and OML 121, offshore oil and
gas leases in deep water Nigeria which include the currently producing Oyo
Oilfield, and six recently acquired exploration blocks in Kenya and The
Gambia. The Company is currently pursuing further additions to its exploration
portfolio in East and West Africa. The Company was founded in 2005 and has
offices in Houston, Texas, Nairobi, Kenya, Banjul, Gambia and Lagos, Nigeria.

Forward-Looking Statements

This press release contains certain statements that may include
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of
the Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, are "forward-looking statements," including
statements regarding the Company's proposed transactions, business strategy,
plans and objectives and statements of non-historical information. These
forward-looking statements are often identified by the use of forward-looking
terminology such as "will," "should," "believes," "expects," "anticipates" or
similar expressions, and involve known and unknown risks and uncertainties.
Although the Company believes that the expectations reflected in these
forward-looking statements are reasonable, they involve assumptions, risks and
uncertainties, and these expectations may prove to be incorrect. You should
not place undue reliance on these forward-looking statements, which speak only
as of their respective dates. Risks and uncertainties regarding the
transactions described herein include the possibility that the schedule for
drilling may be delayed due to unavailability or delays in procurement of
necessary equipment and materials. In addition, the Company's actual results
could differ materially from those anticipated in these forward-looking
statements as a result of a variety of other factors including those discussed
in the Company's periodic reports that are filed with and available from the
Securities and Exchange Commission ("SEC"). All forward-looking statements
attributable to the Company or persons acting on its behalf are expressly
qualified in their entirety by these factors. Other than as required under the
securities laws, the Company does not assume a duty to update these
forward-looking statements.

Contacts

Media: CAMAC Energy Inc. +1-713-797-2940 PR@camacenergy.com

or

Investor Relations: Renmark Financial Communications Inc. Robert Thaemlitz:
rthaemlitz@renmarkfinancial.com Laurence A. Lachance:
llachance@renmarkfinancial.com +1-416-644-2020 or +1-514-939-3989
www.renmarkfinancial.com

CAMAC Energy Inc. +1-832-209-1419 IR@camacenergy.com
 
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