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Pacific Asia Petrole (NYSE AMEX:CAK)

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Friday, December 24, 2010

On December 21, 2010, CAMAC Energy Inc. entered into a Securities Purchase Agreement, dated as of December 21, 2010with certain purchasers (the "Purchasers"), pursuant to which the Company will sell a total of 9,319,102 shares of its common stock, par value $0.001 per share, for an aggregate purchase price of approximately $20.5 million, or $2.20 per share.

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