U.S. oil firm Camac Energy said on Friday it planned to list in Johannesburg, just months after the Africa-focused company was thrown a $270 million lifeline by South Africa's state pension fund. The Public Investment Corporation (PIC), which manages 1.4 trillion rand ($127 billion) of South African government employee retirement funds, agreed in November to purchase a stake in Camac, days after the Houston-based firm warned it could go bankrupt, filings show.Camac, which explores for oil and gas in Nigeria, Kenya and Gambia, has said the PIC investment would fund the purchase of the remaining 60 percent it does not already own in Nigeria's Oyo oil field.Camac's share price has risen nearly 60 percent since the PIC investment, valuing it at $245 million - below the pension fund's purchase price of $270 million for 30 percent.The company - which is not covered by analysts according to Thomson Reuters data - warned investors it required additional finance to stay in business just a week before the PIC deal was announced, saying its debt outweighed assets by $13.4 million.
CAMAC Energy Inc. (CAMAC) is engaged in the exploration, development, and production of oil and gas outside the United States, directly and through joint ventures. Shares of CAK remained unchanged at $1.54. In the past year, the shares have traded as low as $0.45 and as high as $1.73. On average, 386861 shares of CAK exchange hands on a given day and today's volume is recorded at 71053.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.17% or $0.06/share to $34.39. In the past year, the shares have traded as low as $29.61 and as high as $38.73. On average, 696306 shares of TRI exchange hands on a given day and today's volume is recorded at 267354.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.13% or $0.05/share to $37.73. In the past year, the shares have traded as low as $30.10 and as high as $42.10. On average, 903241 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 305446.
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