8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________

FORM 8-K

______________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported):  June 29, 2012

______________________

CAMAC ENERGY INC.

(Exact name of registrant as specified in its charter)

______________________

Delaware

(State or other jurisdiction of incorporation)

001-34525	30-0349798
(Commission File Number)	(IRS Employer Identification Number)

1330 Post Oak Blvd., Suite 2575, Houston, Texas - 77056

(Address of principal executive offices)

(713) 797-2940

(Registrant’s telephone number, including area code)

______________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01                      Regulation FD Disclosure.

On June 29, 2012, CAMAC Energy Inc. (the “Company”) issued a press release announcing that Allied Energy PLC, an affiliate of the Company’s largest shareholder, has closed the previously announced transaction to acquire the 40% working interest in Nigerian OMLs 120 and 121 from Nigerian Agip Exploration, a subsidiary of Eni SpA.  A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

The information furnished in this Current Report on Form 8-K shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly stated by specific reference in such filing.  By furnishing this information in this Current Report on Form 8-K, the Company makes no admission as to the materiality of any information in this report that is required to be disclosed solely by reason of Regulation FD.

Item 9.01                      Financial Statements and Exhibits. 

(d)  Exhibits
Exhibit	Description
99.1	Press Release dated June 29, 2012.

SIGNATURES

Pursuant to the requirement of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CAMAC Energy Inc.
Dated:  June 29, 2012	By:	/s/ Nicolas J. Evanoff
		Nicolas J. Evanoff
		Senior Vice President, General Counsel & Secretary

EXHIBITS

Exhibit	Description
99.1	Press Release dated June 29, 2012.

EX-99.1

Exhibit 99.1

CAMAC Energy Announces Completion of OML 120/121 Acquistion

HOUSTON, TEXAS – June 29, 2012 – CAMAC Energy Inc. (NYSE Amex: CAK), today announced that Allied Energy PLC (“Allied”), an affiliate of the Company’s largest shareholder, has closed the previously announced transaction to acquire the 40% working interest in Nigerian OMLs 120 and 121 (the “OMLs”) from Nigerian Agip Exploration (“NAE”), a subsidiary of Eni SpA (“Eni”).

Allied has informed the Company that it plans to continue the development of the Oyo Field by drilling a new well in the fourth quarter of 2012. The new well, Oyo #7, is being designed not only to increase production from the 75 million barrels of reserves (1P, 2P and 3P) in the Pliocene reservoir, but also to test the prospective resource potential of the deeper Miocene reservoir in the field. With these dual objectives, the #7 well is expected to both significantly increase oil production from the currently producing reservoir and de-risk much of the unrisked resource potential in the rest of OMLs, independently estimated at over 2 billion barrels of oil.

Allied intends to engage CAMAC Energy to act as its technical service advisor, and the Company is currently engaged in advanced negotiations with drilling rig contractors and other critical service providers on behalf of Allied. The Company will continue to provide updates on these negotiations and other critical milestones as the well #7 spud date approaches.

“We are very pleased that Allied has officially closed its purchase of NAE’s interest in OML120 and 121, and we would like to thank NAE and Allied for their steadfast commitment and diligence in executing the transaction,” said Chairman and Chief Executive Officer, Dr. Kase Lawal. “Today is an important day for CAMAC Energy and its shareholders, as we finally remove the operational uncertainty on OML 120 and 121. With the completion of this transaction, the Company can focus on increasing the value of its Nigerian assets, as well as its frontier exploration acreage. We look forward to working with our partner Allied to execute our drilling program and to significantly increase oil production.”

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 and gas leases in deep water Nigeria which include the currently producing Oyo Oilfield, and a 100% interest in the Zijinshan Block gas asset located in the Shanxi Province, China. CAMAC Energy is currently pursuing additions to its exploration portfolio in East and West Africa and has recently acquired exploration acreage in Kenya and Gambia. 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 general ability of CAMAC Energy Inc. to achieve its commercial objectives; the business strategy, plans and objectives of CAMAC Energy Inc. and its subsidiaries; the timing and potential results of planned drilling operations; 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 (http://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.

Contacts

Media:

CAMAC Energy Inc.

Cristy Taylor, 713-797-2940

PR@camacenergy.com

or

Investor Relations:

ICR

832-209-1419

IR@camacenergy.com

Liviakis Financial Communications, Inc.

John Liviakis,CEO

415-389-4670