Market News

  • Seadrill to purchase ultra-deepwater drillship West Polaris

    Posted on :Friday , 2nd January 2015

     Seadrill Limited has announced it has exercised a purchase option for the West Polaris, a 6th generation Ultra-Deepwater drillship, from Ship Finance International Limited.

    The West Polaris was acquired by Ship Finance in 2008 and subsequently bareboat chartered to Seadrill with purchase options commencing in 2012.The purchase option price is US$456 million and total considerati. . .

  • Western Corporation Limited exploring the East African Oil & Gas Industry

    Posted on :Wednesday , 31st December 2014

     Western Corporation limited signs up as a Platinum Sponsor at the 4th Oil & Gas Africa 2015 which will take place from the 27th – 29th April 2015, 

    at the Kenyatta International Conference Centre, Nairobi, Kenya. The expo is a hub for key players in the oil and gas community, attracting 
    leading oil, gas and petroleum companies from around the wor. . .

  • Gas Project Law Adopted by Mozambique Sets Benchmark, IMF Says

    Posted on :Tuesday , 30th December 2014

     A law adopted by Mozambique this week to provide long-term fiscal and legal stability for gas projects off its northern coast will be a benchmark for such agreements in other countries, said the International Monetary Fund.

     
    The law applies to two projects in the Rovuma Basin, near the border with Tanzania, operated by Anadarko Petroleum Corp. (APC) and Eni SpA. . .

  • Eland Oil & Gas - Crude Oil Sale Update

    Posted on :Tuesday , 30th December 2014

     Eland (AIM: ELA), an oil & gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, is pleased to announce that Elcrest Exploration and Production Nigeria Ltd ("Elcrest"), Eland's joint venture company, has completed the loading and sale of a further 31,500 bbls gross of crude for an average price of $94.93 per barrel. T. . .

  • Swala Energy Receives Funding for Exploration in its East African Acreage

    Posted on :Tuesday , 30th December 2014

    Swala Energy Limited has announced that Swala has received US $750,000 under the terms of the Convertible Note Facility pursuant to the Company’s ASX Announcement in mid December.

     
    Under the terms of the Facility 750,000 Convertible Notes will be issued subsequent funding of up to US $750,000 per tranche is available at Swala’s request and may be drawn do. . .

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