Rodman & Renshaw Acts as Exclusive Placement Agent to CAMAC Energy Inc. on $20.0 Million RDO

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. RODM, announced that it acted as the exclusive placement agent to CAMAC Energy Inc. (NYSE Amex: CAK) on the Company's $20.0 million registered direct offering. CAMAC Energy Inc., a U.S.-based energy company engaged in the exploration, development and production of oil and gas, today announced that the Company has entered into definitive agreements dated December 21, 2010 with certain accredited investors to sell in a registered direct offering an aggregate of approximately 9.09 million shares of its common stock at a price of $2.20 per share, and five-year warrants to purchase up to approximately 4.54 million shares of common stock with an initial exercise price of $2.20 per share, exercisable immediately. Thirty days after the closing date, the exercise price of the Warrants will increase to $2.62 per share for the remainder of the term of the Warrants. CAMAC Energy will receive aggregate gross proceeds of approximately $20.0 million from the offering before deducting offering fees and expenses. The offering is expected to close on or around December 27, 2010, subject to customary closing conditions.