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Camac Energy Inc Report


camac-energy-report-spreadWe Initiate Coverage of CAMAC Energy, Inc. (“CAK”, “CAMAC” or “Company”) with a Buy rating and assign a $1.58 per share price target. The Company has a history of material revenue as an independent oil producer that offers exposure to a diversified portfolio among the world’s most exciting offshore emerging hydrocarbon provinces, of which leases often require indigenous relationships and decades of political influence. With the stock down by over 20% year-to-date and 65% during the past 12-months, CAMAC now trades at a significant discount to Core NAV, offering a compelling valuation combined with a host of potential medium-term catalysts:

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