(HornTrade) – Oyster Oil & Gas Ltd. has commenced an onshore geophysical survey in the Republic of Djibouti. The survey is a regional geophysical program covering some 450 kilometres located in the onshore Blocks one, two and four.
Oyster anticipates that the acquisition and processing will be completed by end of 2013.
“We have been encouraged by our geological and geophysical work in Djibouti and have identified potentially good quality oil source rocks and also good reservoir potential,” said Dr. Phil Roach, Exploration Consultant. “This geophysical survey will help to provide a regional understanding of the deposition and sedimentary basins in Djibouti. This is one of the largest of this type of survey in the region and we hope it will greatly assist in our understanding of the hydrocarbon systems and allow us to unlock the potential in Djibouti.”
Oyster is an oil and gas exploration company with a focus on eastern Africa.
On Wednesday, Oyster was up 2.0% and was trading at $0.51 a share. The company had a market cap of $13.3 million, based on 26.1 million shares outstanding.
(HornTrade) – Horn Petroleum has encountered further oil at its Shabeel-1 well that it is currently drilling in Puntland, Somalia, according to stock exchange announcements made in London on Monday from Horn’s partners Range Resources and Red Emperor Resources. Read the rest of this entry »
(HornTrade) - A LARGE investment programme worth $4,3bn is being undertaken by the Djibouti Ports and Free Zones Authority (DPFA) to expand its operations and support the growing economy of its larger landlocked neighbour and main customer, Ethiopia. The plan is to add five ports to a sprawling complex incorporating a new free trade zone, the authority’s chairman, Aboubaker Omar Hadi, said in an interview last week. Read the rest of this entry »
(HornTrade) – With five new terminals dedicated to oil, gas, salt, livestock and potash, the port of Djibouti will take a new dimension by 2017.
“It’s confirmed,” said Omar Hadi Aboubaker. The president of the Ports Authority and the Djibouti free zone can be satisfied: the government has officially launched the project to build the ore terminal Tadjourah, located across the Gulf of the same name, opposite the capital. The Port Authority must specify the company supervisor before the end of the month, the first sod is expected in early June.
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(Horntrade) – Mindesta Inc. wishes to announce that it now has an option to earn an interest in a third exploration permit in the Republic of Somaliland. Mindesta is already earning up to an 80 per cent interest in, and can ultimately acquire 100% of, the first two mineral exploration permits issued by the Republic of Somaliland under an existing Option Agreement with Nubian Gold Corporation (“Nubian”). Nubian was recently awarded a third permit, Abdul Qadir, which is approximately 2,000km2 in size and is located in the northeast part of Somaliland adjacent to the borders with Djibouti and Ethiopia. Abdul Qadir is automatically included in Read the rest of this entry »
(HornTrade) – A high level delegation from both the neighboring State of the Republic of Ethiopia and Djibouti arrived in Juba Wednesay to attend a technical framework for the construction of South Sudan oil pipelines through the two countries.
The delegation is composed of the State Ministers and permanent secretaries from the two countries. Read the rest of this entry »
(HornTrade) – Stratex International (LON:STI) today unveiled what it describes as an impressive gold discovery in Djibouti, East Africa.
The first set of assays from a sampling programme at the Pandora vein on the Oklila licence revealed high gold grades, reaching up to 27.1 grams per tonne (g/t).
“Having just returned from the field in Djibouti, I must say that the Pandora structure is an impressive discovery,” said executive director David Hall.
Oklila is part of Stratex’ Afar portfolio which is being explored alongside Thani Ashanti – a venture between the one of the world’s largest gold miners AngloGold Ashanti and Dubai based Thani Investments. Read the rest of this entry »
(Horntrade) – The Djiboutian Minister of Culture and Communication, in charge of Posts and Telecommunications, and government spokesman, Abdi Ahmed Husain, explained that the reduction in tariffs leads to a decrease of 66% nationally and 80% internationally.
Thus, the call rates will be in Djibouti city, in the day, from 5 fd minute for calls from fixed to fixed fd instead of 15, a decrease of 67%. Read the rest of this entry »
(HornTrade) – Despite excellent fibre optic connections, Djibouti’s telecoms sector is not growing as fast as it should – largely due to an overly-powerful nation telco, according to Research & Markets.
Djibouti is one of the last countries in the world allowing its national telco, Djibouti Telecom (DT) a monopoly on all telecom services, including fixed lines, mobile, internet and broadband. Read the rest of this entry »