CAMAC Energy Inc. (CAK) announced fourth-quarter a net loss of $2.9 million, or $0.02 per share compared to a net loss of $1.7 million, or $0.01 per share in the year ago quarter.
For the year ended December 31, 2012, CAMAC Energy reported a net loss of $6.1 million, or $0.04 per share, as compared to a net loss of $24.9 million or $0.16 per share, for the year ended December 31, 2011. The narrower in net loss for the year 2012 was primarily due to lower workover costs related to well #5 in Oyo Field.
Operating revenues for the Company were $16.6 million for the year ended December 31, 2012, compared to $37.9 million in 2011. The decrease in 2012 was primarily due to the reduction in Cost Oil recovery related to workover costs incurred on well #5 in Oyo Field in 2010 and 2011.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.