Hess Announces Results of Africa Exploration Drilling

Hess Corporation announced the outcome of its recent exploratory drilling program in Africa. In Libya, well A1-54/01 in the Arous Al-Bahar prospect was drilled to a depth of 11,077 feet in 2,807 feet of water. The well encountered a gross hydrocarbon section of approximately 500 feet at various intervals. Hess holds a 100 percent working interest in Area 54, which is located 38 miles offshore in the... 

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Anadarko Announces Successful Appraisal Well Offshore Ghana

Anadarko Petroleum Corporation announced another successful appraisal well in the Jubilee field offshore Ghana. The Hyedua-2 well encountered a gross reservoir interval of more than 390 feet, containing approximately 180 feet of high-quality hydrocarbon-bearing, stacked reservoir sandstones and confirms the northwestern extension of the Jubilee field. The Hyedua-2 well is located in 4,090 feet of water,... 

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Magnus International Resources Acquiring African Mineral Fields to Explore Mineral Opportunities in Africa

Magnus International Resources, Inc. announced today that it has entered into a letter of intent to acquire African Mineral Fields, a company which holds an exclusive option to acquire 100% interests in four gold projects in Uganda. The acquisition comes as part of Magnus’ decision to expand its mineral portfolio into Africa, which holds 55% of the known global gold resource and is experiencing... 

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Magnus Acquiring African Mineral Fields to Explore Mineral Opportunities in Africa

Magnus International Resources (“Magnus”) ”the Company”) NASD OTC-BB: ”˜MGNU’) announced today that it has entered into a letter of intent to acquire African Mineral Fields, a company which holds an exclusive option to acquire 100% interests in four gold projects in Uganda. The acquisition comes as part of Magnus’ decision to expand its mineral portfolio... 

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Nigeria: Firms Win Solid Mineral Blocks

Sinopec, a subsidiary of the China Petroleum and Chemical Company yesterday blazed the trail in the Nigerian solid minerals sector when it emerged winner of the nation’s Bitumen Block2, unarguably the first bitumen deposit to be formally exploited in Nigeria many years after the mineral was discovered in the country. The Chinese mining firm offered $18.6m to win the bid, while the second contender,... 

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Ghana: Crude Oil Price Does Not Determine Petroleum Product Prices – Dep Minister

Deputy Energy Minister, K.T. Hammond, has disclosed that prices of petroleum products in the country are not determined by crude oil prices as is being perceived by sections of the public. He told Parliament that following government’s decision to deregulate the petroleum downstream market in 1994, pricing of petroleum products has been based on import parity. “Product pricing is therefore... 

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