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Issue 229 - 20 April 2012

Fitch upgrade; Paris Club debt relief

Subscriber

European ratings agency Fitch has revised Gabon’s outlook to positive and affirmed its BB- rating; The Paris Club of creditor governments on 11 April agreed to alleviate Guinea’s external public debt, putting its Heavily Indebted Poor Countries (HIPC) programme back on track after several years of political turmoil

Guinea | Gabon
Subscriber

Aker Solutions Singapore Pte has signed a two-year frame agreement with Badr El Din Petroleum Company (Bapetco) to be the sole supplier for its surface wellhead equipment, installation and lifecycle services operations in the Western Desert; Houston-based Hyperdynamics Corporation on 18 April announced it had engaged BofA Merrill Lynch as financial adviser to assist with the potential sale of a portion of its 77% interest in its 25,000km2 exploration concession offshore Guinea; French major Total on 12 April announced that it had decided not to proceed with an offer for London AIM-listed Wessex Exploration

Mozambique | Egypt | Guinea
Issue 225 - 16 February 2012

Hyperdynamics well fails

Subscriber

Hyperdynamics Corporation has announced that its Sabu-1 well failed to find commercial hydrocarbons, adding to pressure on the cash-strapped company

Guinea
Issue 224 - 02 February 2012

Guinea well delays hit cash flow

Subscriber

US minnow Hyperdynamics has managed to raise $30m with a share offering, just days after announcing another delay to its Sabu well

Guinea
Subscriber

Dana Petroleum has announced a “new brand identity” aimed at helping it expand in Europe, the Middle East and Africa; Eve Howell has set up a new venture with Mauritania and Mali enthusiast Max de Vietri and Colombian geologist Ricardo Garzon, named EMR Resources; Vancouver-based Simba Energy has begun trading on the US over-the-counter market’s highest tier, the OTCQX, which aims to give international companies access to US investors

Guinea | Morocco
Issue 222 - 16 December 2011

High marks from the IMF

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The new government of President Alpha Condé has received a good report from an International Monetary Fund (IMF) mission that visited on 10-22 November. Mission head Harry Snoek said Guinea had made good progress under its 2011 staff-monitored programme, which involves close supervision but no funding,

Guinea
Issue 221 - 02 December 2011

Offshore well hits snags

Subscriber

The well being drilled by Hyperdynamics on the Sabu prospect offshore Guinea has been delayed by operational issues with the Jasper Explorer drillship. Industry sources said

Guinea
Issue 217 - 08 October 2011

Condé looks to China to ease power woes

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China is once again wooing the new Guinean government, offering badly needed power investment and a major bauxite project, writes Our Conakry Correspondent

Guinea
Issue 217 - 08 October 2011

GUINEA: Hyperdynamics vessel attacked

Free

Highlighting the security challenges of operating offshore West Africa, armed men attacked a vessel belonging to US minnow Hyperdynamics in late September, beating up and robbing the crew.

Guinea
Issue 215 - 10 September 2011

Offshore drilling

Subscriber

Houston-based Hyperdynamics plans to launch its long-awaited offshore drilling programme in early October.  The Jasper Explorer drillship is on its way from Singapore to Guinea to drill the Sabu-1 well, which will be drilled in 700 metres of water to target a four-way anticline prospect with Upper Cretaceous sands.  

Guinea
Subscriber

China International Water & Electric Corporation (CWE) has signed a contract to build the 240MW Kaléta dam on the Konkouré River as Beijing eyes Guinea’s bauxite reserves. 

Guinea
Issue 213 - 16 July 2011

HYPERDYNAMICS: NYSE listing

Subscriber

Guinea player Hyperdynamics has transferred its share listing to the main New York Stock Exchange from the NYSE Amex.

Guinea
Issue 213 - 16 July 2011

Rio Muni HEP to raise capacity

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Plans are moving ahead for a new hydroelectric plant in Rio Muni, the underdeveloped continental part of Equatorial Guinea for which the government has big urban and industrial development plans. This will bring national capacity to 700MW by 2015, the authorities say – up from 500MW by 2012, when significant new capacity comes on line. Installed capacity is now around only 100MW, of which 40MW is for Malabo and Bioko

Guinea | Gabon
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The government of elected President Alpha Condé plans to introduce a package of electricity sector reforms to create a framework for investment that will allow Guinea to harness its estimated 6,000MW hydroelectric potential

Guinea
Subscriber

The Guinean government is assessing an offer from Sinohydro Corporation and China International Water and Electric Corporation to build the long-awaited Kaléta hydropower project on the Konkouré River, energy and environment minister Papa Koly Korouma said in Paris on 14 June.

Guinea