Allana Resources Inc., update its previously announced acquisition of three mineral concessions in Ethiopia’s northeastern Danakil Depression totaling approximately 150 square kilometers (please refer to Allana’s September 17, 2008 press release). The project area is approximately 100 km from the Red Sea coast and 600 km via good roads from the deep water port of [...]
Calvalley Petroleum Inc. announce that it has entered into its first Production Sharing Contract with the Ethiopian Government for the exploration, development and production of petroleum resources in the Gimbi and Metema blocks under a single contract covering a total area of over 46,470 square kilometers (11.5 million acres). Both blocks are located in [...]
Avion Resources Corp., announced that the Company’s Board of Directors have approved a new mining strategy for the Segala and Tabakoto gold projects, located in Mali, West Africa. The Company will focus on the Segala project during the first phase of the new mining strategy. Avion Resources plans to commence mining operations at Segala, which [...]
Soaring oil and food prices lifted inflation to record levels in Europe on Wednesday and posed a serious threat to governments worldwide amid expert warnings of social upheaval.
Record inflation has spared neither rich nor poor countries as food and energy prices have surged worldwide with booming demand in fast-growing Asian countries such as China and [...]
Seven Chinese oil workers abducted by Ethiopian rebels after a deadly attack on an oil venture arrived here Monday, a day after being freed.
The hostages arrived in Addis Ababa aboard a military helicopter from the country’s eastern Ogaden region, where they had been held since last Tuesday, when the rebel Ogaden National Liberation Front (ONLF) [...]
Building the better mouse trap, er, drilling rig had always been a dream of Joe Stevens.
“Truck mounted drilling rigs were designed to drill one well per location, then tear down, and drive to another location miles away,” the Maple Plain, Minn. man explains. “Truck mounted drilling rigs were NOT designed to drill several bore-holes 10 [...]
The Ministry of Mines and Energy said it is exerting various efforts to solve rising living cost caused due to petroleum price hike through developing national energy resources.
The ministry said agreements are expected to be reached with Petronas International Company for the development of the Hilala and Kalub natural gas fields in Somali State.
During a [...]
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% [...]
Magnus International Resources (”Magnus”) “the Companyâ€)
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 into Africa, [...]
