Seven Generations Energy Ltd. acquires 118 net sections of additional montney lands
Seven Generations Energy Ltd. ("7G" or the "Company") is pleased to announce that since the beginning of 2014, it has, through several separate purchase and swap transactions, increased its Montney land holdings by a net 118 sections. The net cost to 7G for these transactions was approximately $29.5 million cash and other consideration. The acquisitions also include a road accessing 7G's core lands between the Kakwa and Smoky Rivers.
7G's net land holdings (all in the Kakwa River Project area) are now approximately 547 sections, including 516 sections (approximate) of petroleum and natural gas rights in the Montney formation, a net increase of 29% since the beginning of 2014. Most of the newly acquired land is proximal to the Company's existing acreage.
Al-Futtaim Acquires Major Shares In Kenyan Automobile Business
Dubai’s Al-Futtaim Group now holds majority shares in Kenyan automobile retailer, CMC Holdings Limited after 91 percent shareholders accepted its 7.6 billion shilling ($87.91 million) offer for its 533 million shares.
CMC, which distributes Ford, Mazda, Suzuki and Volkswagen vehicles among other brands is a key player in East Africa automotive industry. The successful acquisition of the CMC group represents Dubai-based Al-Futtaim’s first venture into the sub-Saharan and Eastern Africa regions.
Daimler India begins export of trucks to Tanzania
Daimler India Commercial Vehicles (DICV), the 100% wholly owned subsidiary of German auto biggie Daimler AG, along with Mitsubishi Fuso Truck and Bus Corporation, Japan (MFTBC), also a Daimler group company, launched DICV-made trucks in Tanzania, making it the fourth market since the start of export operations at the DICV Chennai plant in May 2013.
As part of the first 15 export markets for DICV under the new Asia Business Model, the Tanzanian market is a key market in Africa. The trucks will be sold through the exclusive dealer, Diamond Motors Limited, in Tanzania.
Nigeria commits to increase gas supply to Ghana
The Nigerian government has expressed commitment towards a continuous supply of gas to Ghana to operate her thermal power plants.
Top officials of the West African oil giant made the commitment at crunch meetings held with Ghana’s Minister for Energy and Petroleum, Emmanuel Armah-Kofi Buah, on Tuesday March 18, 2014.
The Energy Minister, accompanied by the Chief Executive of the Volta River Authority, Mr. Kirk Koffie, went to Nigeria Monday for discussions with suppliers in a bid to boost gas supply to Ghana.
As part of the media update on the current power situation held on Friday March 14, 2014, the Ministry claimed that one of the causes for the load management exercise being carried out by the Electricity Company of Ghana was because of the erratic and very low levels of gas supply from Nigeria resulting in Ghana unable to power its thermal Power plants to full capacity.
