http://www.usafricaonline.com/camac-pap-nyse-kaselawal-chido2010/

http://www.ngrguardiannews.com/sunday_magazine/article23/110410?pdate=110410&ptitle=How%20US-based%20Nigerian%20Took%20Over%20NYSE-listed%20Oil%20And%20Gas%20Company&cpdate=110410


HARTSDALE, N.Y., April 7 /PRNewswire-FirstCall/ -- Pacific Asia Petroleum, Inc. (NYSE Amex: PAP) and CAMAC International jointly announced that Pacific Asia Petroleum has completed the acquisition of all the interest held by CAMAC Energy Holdings Limited and certain of its affiliates ("CAMAC" in a Production Sharing Contract for the Oyo Oilfield, an offshore oil asset in Nigeria that started production in December 2009. CAMAC now owns 62.74% of the issued and outstanding capital stock of Pacific Asia Petroleum. In addition, Pacific Asia Petroleum's name has been changed, effective today, to "CAMAC Energy Inc."

This announcement is made following the receipt of approval of the acquisition and related matters from Pacific Asia Petroleum's stockholders at the Company's special meeting on April 5, 2010.

New Board of Directors

With effect from the closing of this transaction, Mr. Robert Stempel and Ms. Elizabeth Smith have resigned from the Company's Board of Directors. Additionally, the number of directors on the Board has been increased from five to seven. The four vacancies created by these resignations and newly created directorships have been filled by the appointment of the following individuals:

Dr. Kase Lawal, the Chairman and CEO of CAMAC International. Dr. Lawal is also the Chairman of Allied Energy Corporation and serves as the Commissioner on the Port of Houston Authority and as the Vice Chairman of Houston Airport Development System Corp.
Ms. Hazel O'Leary, the President of Fisk University in Nashville, Tennessee. Ms. O'Leary formerly served as the Secretary of Energy under President Clinton.
Mr. John Hofmeister, the Head of Citizens for Affordable Energy, a not-for-profit firm he founded in 2008. Mr. Hofmeister is the former President of Shell Oil Company.
Dr. Lee Patrick Brown, the Chairman and CEO of Brown Group International and the Chairman of the Board of Unity National Bank. Dr. Brown, the former Mayor of Houston, also served in President Bill Clinton's Cabinet as Director of the White House Office of National Drug Control Policy from 1993 to 1996.


Commenting on the closing of the transaction, Pacific Asia Petroleum President and CEO, Frank Ingriselli, stated, "Today's closing caps a many months-long process and hard work by all of the parties involved in the transaction. We are now prepared to capitalize on the opportunities presented by this acquisition. We expect that the addition of the Oyo Oilfield asset, combined with our existing China assets and the wealth of experience from the new board members and CAMAC, will further enhance our capacity to achieve the Company's strategy to aggressively grow shareholder value with high-return and early cash flow assets."

Dr. Kase Lawal, Chairman and CEO of CAMAC International, and new member of the Board of Directors of Pacific Asia Petroleum, noted, "We are very excited about the possibilities our new relationship presents. We are very pleased to be a part of the next phase of the development of CAMAC Energy Inc. on the NYSE Amex platform. I look forward to working with the management and the Board to continue creating value for all our shareholders."

http://finance.yahoo.com/news/CAMAC-Energy-Inc-Names-Abiola-bw-2442023990.html?x=0&.v=1
CAMAC Energy Inc. Names Abiola Lawal as Interim CFO


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{"s" : "cak","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Press Release Source: CAMAC Energy Inc. On Tuesday April 27, 2010, 9:00 am EDT
HARTSDALE, N.Y.--(BUSINESS WIRE)--CAMAC Energy Inc. (NYSE Amex: CAK), a U.S.-based energy company engaged in the exploration, development, production and distribution of oil and gas globally, today announced that Abiola Lawal has been appointed as Interim Chief Financial Officer, effective May 17, 2010. Mr. Lawal will be replacing the Company’s CFO and Vice President, Mr. Stephen Groth, who is retiring.

Mr. Abiola Lawal is currently the Executive Vice President and Chief Strategy Officer for CAMAC International, a privately-held $2 billion revenue international oil and gas company, and its subsidiary, Allied Energy. He will serve as CAMAC Energy’s CFO until such time that the Company appoints his successor.

Mr. Ingriselli said of Mr. Lawal’s appointment, “We are very pleased to announce Abiola’s appointment as the Interim CFO. As a seasoned business and financial strategist, Abiola’s insight and experience will provide invaluable support to the Company’s ongoing strategy to develop a balanced portfolio of producing assets, development assets, and assets that have long term upside potential to add significant shareholder value. His experience on the financial and strategy side in the oil and gas sector with both public and private companies will add the strength we need in our management team and will strengthen our foundation as we position ourselves for further growth and expansion in 2010 in West Africa and China.”

Mr. Lawal has served in various senior management and director positions driving strategy and process efficiencies throughout his career in Nigeria and the U.S. With an expertise in merger and acquisitions and post-merger integration, Mr. Lawal will add to the wealth of management experience at CAMAC Energy with his 20 years of experience in the strategic planning, risk management and financial management.

Prior to joining CAMAC International, Mr. Lawal was the Group Chief Strategy Officer at Oando Plc., a $2.5 billion revenue Nigerian and Johannesburg Stock Exchange-listed oil and gas company headquartered in Nigeria, and a Director of its Gas & Power division. Previously, Mr. Lawal was a Senior Manager in the Business Strategy & Transformation Group with SAP America Inc. and the CEO at eWorldtrack Mobile Technologies.

Mr. Lawal holds an MBA from the Paul Mirage School of Business at the University of California, Irvine and a Bachelor of Science degree in Economics from the University Of Ilorin, Nigeria.

The Company’s President and CEO Frank Ingriselli said of Mr. Groth’s retirement, “On behalf of our Board of Directors and the Company, I want to thank Stephen for his years of service to our Company. As a valued member of the senior management team, Stephen has led the Company in setting high standards of financial reporting and accounting governance. His leadership has greatly contributed to the Company’s success based on our management’s commitment to high ethical standards and responsible corporate governance.”

Mr. Groth was a founding member of the executive team of Pacific Asia Petroleum Inc. (now known as CAMAC Energy Inc.) and served as Pacific Asia Petroleum’s CFO and Vice President from its inception. He currently holds the same position for CAMAC Energy Inc.

Nice to hear-
didnt know that Oando and camac were "cool" like that

I'm surprised that it beat Dangote to it.