HOUSTON - Friday, April 17th 2015 [ME NewsWire]
Changes name to Erin Energy Corporation
New ticker symbol “ERN”
Announces 1:6 reverse stock split
(BUSINESS WIRE)-- CAMAC Energy Inc. (NYSE MKT:CAK) (the “Company”) will implement a reverse stock split of its common stock pursuant to which each six shares of common stock will be converted into one share of common stock, effective as of 5:00 p.m. Eastern time on Wednesday, April 22, 2015.
Concurrently with the reverse stock split, the Company announced it will change its name to Erin Energy Corporation (“Erin Energy”) and will trade under the new ticker symbol “ERN” on both the NYSE MKT and the Johannesburg Stock Exchange (the “JSE”). Shares of the Company’s common stock will begin to trade under the new symbol and on a split-adjusted basis at the opening of trading on Thursday, April 23, 2015 and will have new CUSIP and ISIN numbers.
Kase Lawal, Chairman and Chief Executive Officer commented: “These important actions together with our impending production from the Oyo field are the next phase of our company’s transformation into a focused, world-class, international exploration and development company. We are a fundamentally different company than we were a few years ago, and our rebranded company represents the transformation our organization has undergone over time. As we anticipate production tie-in from the Oyo-8 and Oyo-7 wells, it is with great excitement that we look to the future and the significant growth potential of Erin Energy.”
The new Company website will be www.erinenergy.com.
Stockholders who hold their shares through a bank, broker, custodian or other nominee should contact that individual or institution for further information about the impact of the reverse stock split on their shares. Stockholders whose shares are registered directly with our transfer agent (Continental Stock Transfer & Trust Company for shares traded on the NYSE MKT and Link Market Services South Africa (Pty) Limited for shares traded on the JSE) should contact the appropriate transfer agent for further information about the impact of the reverse stock split on their shares. Any fractional shares resulting from the reverse stock split will be settled in cash at a value equal to the respective fractional portions of the closing share price on Wednesday, April 22, 2015.
About CAMAC Energy
CAMAC Energy is an independent oil and gas exploration and production company focused on energy resources in sub-Saharan Africa. Its asset portfolio consists of nine licenses across four countries covering an area of 43,000 square kilometers, including current production and other exploration projects offshore Nigeria, as well as exploration licenses offshore Ghana, Kenya, and Gambia and onshore Kenya. CAMAC Energy is headquartered in Houston, Texas. For more information about CAMAC Energy, please visit www.camacenergy.com.
Contacts
CAMAC Energy Inc.
Investors:
Chris Heath, +1 713-797-2945
chris.heath@camacenergy.com
Media:
Lionel McBee, +1 713-797-2960
lionel.mcbee@camacenergy.com
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