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CAMAC Energy Inc. is responsible for the adequacy and accuracy of the disclosures in the filings;
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Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to the filings; and
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CAMAC Energy Inc. may not assert Staff comments as a defense in any proceeding initiated by the SEC or any person under the federal securities laws of the United States.
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Future Net Cash Flows from Proved (P1), Probable (P2), and Possible (P3) Reserves - December 31, 2011
|
|||||||||||||||||||||
CAMAC Energy Inc. Share of Oyo Field |
12/31/2011
|
Risked
|
||||||||||||||
Productive
|
Undiscounted
|
||||||||||||||
Carrying
|
Basis
|
||||||||||||||
Undiscounted Future Revenues Less Costs
|
Amount
|
Excess/(Def).
|
|||||||||||||
Unadjusted
|
Risk
|
Risk
|
|||||||||||||
for Risk
|
Factor
|
Adjusted
|
|||||||||||||
Net proved reserves 12/31/11
|
80,311,900 | 1.00 | 80,311,900 | ||||||||||||
Net probable - incremental
|
210,090,200 | 0.50 | 105,045,100 | ||||||||||||
Net possible - incremental
|
675,046,600 | 0.10 | 67,504,660 | ||||||||||||
Total 12/31/11
|
965,448,700 | 252,861,660 |
190,979,000
|
61,882,660
|
Oil Reserves
|
Future
Gross
|
Net
Capital
|
Net
Operating
|
Future
Net
|
Cumulative
PWat
|
|||||||||||||||||||||||||||||
Period
|
Gross
|
Net
|
Revenue
|
Taxes
|
Costs
|
Expense
|
Revenue
|
10.0% | ||||||||||||||||||||||||||
Ending
|
(MBBL)
|
(MBBL)
|
$(M) | $(M) | $(M) | $(M) | $(M) | $(M) | ||||||||||||||||||||||||||
12-31-2012 | 978.2 | 82.6 | 9,276.1 | 0.0 | 0.0 | 0.0 | 9,276.1 | 8,844.4 | ||||||||||||||||||||||||||
12-31-2013 | 4,165.9 | 842.6 | 94,593.4 | 2,192.8 | 62,008.4 | 38,693.7 | (8,301.5 | ) | 1,648.8 | |||||||||||||||||||||||||
12-31-2014 | 4,691.0 | 870.9 | 97,772.3 | 9,370.8 | 0.0 | 37,002.4 | 51,399.1 | 42,150.5 | ||||||||||||||||||||||||||
12-31-2015 | 2,591.4 | 519.5 | 58,317.4 | 4,064.0 | 0.0 | 33,642.0 | 20,611.5 | 56,915.5 | ||||||||||||||||||||||||||
12-31-2016 | 1,253.3 | 347.2 | 38,976.6 | 584.1 | 300.0 | 30,765.8 | 7,326.8 | 61,686.9 | ||||||||||||||||||||||||||
12-31-2017 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 61,686.9 | ||||||||||||||||||||||||||
12-31-2018 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 61,686.9 | ||||||||||||||||||||||||||
12-31-2019 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 61,686.9 | ||||||||||||||||||||||||||
12-31-2020 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 61,686.9 | ||||||||||||||||||||||||||
12-31-2021 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 61,686.9 | ||||||||||||||||||||||||||
Total
|
13,680 | 2,663 | 298,936 | 16,212 | 62,308 | 140,104 | 80,312 | 61,687 | ||||||||||||||||||||||||||
Oil Reserves
|
Future
Gross
|
Net
Capital
|
Net
Operating
|
Future
Net
|
Cumulative
PWat
|
|||||||||||||||||||||||||||||
Period
|
Gross
|
Net
|
Revenue
|
Taxes
|
Costs
|
Expense
|
Revenue
|
10.0% | ||||||||||||||||||||||||||
Ending
|
(MBBL)
|
(MBBL)
|
$(M) | $(M) | $(M) | $(M) | $(M) | $(M) | ||||||||||||||||||||||||||
12-31-2012 | 0.0 | (3.0 | ) | (337.1 | ) | 0.0 | 0.0 | 0.0 | (337.1 | ) | (321.4 | ) | ||||||||||||||||||||||
12-31-2013 | 3,141.6 | 413.9 | 46,469.6 | 7,602.1 | 0.0 | (744.6 | ) | 39,612.0 | 34,013.6 | |||||||||||||||||||||||||
12-31-2014 | 3,939.5 | 280.2 | 31,457.0 | 10,724.3 | 0.0 | (733.6 | ) | 21,466.3 | 50,928.8 | |||||||||||||||||||||||||
12-31-2015 | 3,540.7 | 368.9 | 41,411.2 | 9,838.9 | 0.0 | ( 49.6 | ) | 31,621.9 | 73,581.2 | |||||||||||||||||||||||||
12-31-2016 | 2,941.9 | 543.7 | 61,030.2 | 8,320.2 | 0.0 | 296.5 | 52,413.5 | 107,714.3 | ||||||||||||||||||||||||||
12-31-2017 | 2,852.6 | 865.1 | 97,113.4 | 21,612.3 | 0.0 | 34,762.7 | 40,738.4 | 131,832.4 | ||||||||||||||||||||||||||
12-31-2018 | 2,028.9 | 609.8 | 68,451.0 | 20,262.3 | 0.0 | 29,485.0 | 18,703.7 | 141,898.8 | ||||||||||||||||||||||||||
12-31-2019 | 1,250.3 | 359.5 | 40,362.8 | 5,209.2 | 0.0 | 29,282.0 | 5,871.6 | 144,771.7 | ||||||||||||||||||||||||||
12-31-2020 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 144,771.7 | ||||||||||||||||||||||||||
12-31-2021 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 144,771.7 | ||||||||||||||||||||||||||
Total
|
19,696 | 3,438 | 385,958 | 83,569 | 0 | 92,298 | 210,090 | 144,772 |
Oil Reserves
|
Future
Gross
|
Net
Capital
|
Net
Operating
|
Future
Net
|
Cumulative
PWat
|
|||||||||||||||||||||||||||||
Period
|
Gross
|
Net
|
Revenue
|
Taxes
|
Costs
|
Expense
|
Revenue
|
10.0% | ||||||||||||||||||||||||||
Ending
|
(MBBL)
|
(MBBL)
|
$(M) | $(M) | $(M) | $(M) | $(M) | $(M) | ||||||||||||||||||||||||||
12-31-2012 | 0.0 | 0.0 | 5.3 | 0.0 | 0.0 | 0.0 | 5.3 | 5.0 | ||||||||||||||||||||||||||
12-31-2013 | 1,757.9 | 168.5 | 18,918.6 | 4,699.8 | 0.0 | (850.8 | ) | 15,069.5 | 13,067.0 | |||||||||||||||||||||||||
12-31-2014 | 6,947.7 | 1409.4 | 158,214.6 | 15,610.3 | 90,773.3 | (438.4 | ) | 52,269.3 | 54,254.5 | |||||||||||||||||||||||||
12-31-2015 | 10,078.4 | 3986.1 | 447,484.6 | 244,676.0 | 0.0 | 286.4 | 202,522.2 | 199,331.4 | ||||||||||||||||||||||||||
12-31-2016 | 7,457.1 | 2916.1 | 327,364.8 | 185,992.4 | 0.0 | 261.3 | 141,111.1 | 291,226.8 | ||||||||||||||||||||||||||
12-31-2017 | 5,308.5 | 1811.0 | 203,301.6 | 107,119.6 | 0.0 | 205.3 | 95,976.6 | 348,047.4 | ||||||||||||||||||||||||||
12-31-2018 | 3,782.4 | 1305.0 | 146,497.3 | 70,454.5 | 0.0 | 146.8 | 75,896.0 | 388,895.0 | ||||||||||||||||||||||||||
12-31-2019 | 2,894.6 | 996.7 | 111,888.4 | 58,653.7 | 0.0 | 156.0 | 53,078.8 | 414.865.2 | ||||||||||||||||||||||||||
12-31-2020 | 2839.5 | 910.4 | 102202.0 | 37,916.2 | 0.0 | 29,286.3 | 34,999.6 | 430.432.9 | ||||||||||||||||||||||||||
12-31-2021 | 381.8 | 119.8 | 13450.2 | 4,461.5 | 0.0 | 4,870.4 | 4 118.3 | 432,098.2 | ||||||||||||||||||||||||||
Total
|
41,448 | 13,623.0 | 1,529,327.4 | 729,584.0 | 90,773.3 | 33,923.3 | 675,046.6 | 432,098.2 |