Camac Energy eyeing the Nairobi Securities Exchange

US-based oil and gas exploration company Camac Energy has said it is eyeing to list in the Nairobi Securities Exchange which would make it the first oil explorer to be listed in the Kenyan bourse.

“Camac Energy is listed on both the New York and Johannesburg stock exchanges and is actively eying the Nairobi Securities Exchange,” read the statement.

This is according to a statement from the company as its chairman Kase Lawal encouraged other American Companies to invest in the country during the Corporate Council on Africa’s dinner which was hosted for President Uhuru Kenyatta on the sidelines of the US-Africa Summit.

Kase Lawal termed Kenya as having a conducive environment to do business backed by enthusiastic support from the entire leadership of the country.

“Under the transformational leadership of President Kenyatta, Kenya is open for business and ready for investment. Kenya remains an inspiration to many countries and President Kenyatta’s government will re-write the script of doing business in Africa,” said Lawal.

Camac Energy has four blocks in Kenya namely Blocks L1B and L16 onshore, and Blocks L27 and L28 offshore giving it the largest acreage from all the exploration companies in Africa.

In March CAMAC Energy announced that it will start its exploration onshore on block L1B or L16 in 2015 even as exploration continues in Blocks L27/ L28 in the Lamu Basin an area estimated to contain up to 3.7 billion barrels of oil.

Offshore the company has already carried out 2D seismic data acquisition in blocks L27/L28 with final data delivery earlier set for June 2014. Following the seismic acquisition CAMAC had said it would conduct a geological and geophysical study incorporating the newly acquired data.

The President is accompanied by a strong business delegation that includes industrialist Chris Kirubi, Gina Din Group founder and Chairman Gina Din-Kariuki, Bidco CEO Vimal Shah, Equity Bank CEO James Mwangi, KEPSA Chief Executive Carole Kariuki and Kenya National Chamber of Commerce Chairman Kiprono Kittony.

Over 400 leading business leaders from both the US and Africa in attendance expressed excitement to invest in Kenya.