Pacific Asia Petroleum Announces New Name and Ticker Symbol

Pacific Asia Petroleum (NYSE Amex: PAP), a U.S.-based energy company engaged in the development, production and distribution of oil and gas, today announced the Company's ticker symbol will change to NYSE Amex: CAK, effective with the commencement of trading on April 13, 2010. This follows the Company's recent name change to CAMAC Energy Inc. upon the closing of transaction on the acquisition of an interest in the Oyo Oilfield on April 7, 2010.

About CAMAC Energy Inc. (Formerly Pacific Asia Petroleum, Inc.)

CAMAC Energy Inc. (formerly Pacific Asia Petroleum, Inc.) is a U.S. publicly-traded energy company engaged in the development, production and distribution of oil and gas and is focused on early cash flow, high return projects. The Company controls the rights to significant gas acreage under contract in China and is a strategic partner with several major energy companies in high-value oil fields. The Company announced on April 7, 2010 a successful acquisition of an interest in the Oyo Oilfield in Nigeria and a new Company name “CAMAC Energy Inc.” The Company was founded in 2005 by a group of former senior Texaco executives and is led by President and CEO Frank C. Ingriselli. CAMAC Energy Inc. (formerly Pacific Asia Petroleum Inc.) is headquartered in Hartsdale, New York, and also has office in Beijing, China.