2merkato

Tullow Oil plc (Tullow) announces that the Tultule-1 wildcat well in the South Omo block onshore Ethiopia, has reached a total depth of 2,101 metres and will be plugged and abandoned as a dry hole.

The well was targeting a reservoir section similar to the sands drilled in the nearby Sabisa-1 well where oil shows were encountered but these sands were not penetrated in Tultule-1. Gas shows were however recorded which reaffirm the presence of a hydrocarbon source in the region.

Nyota Minerals Limited announces that it has entered into a conditional agreement with KEFI Minerals PLC, a gold and copper exploration and development company, for the sale of 75 percent of the issued share capital of Nyota Minerals Ethiopia Limited, the Company’s subsidiary which owns 100% of the Tulu Kapi Gold Project in Ethiopia and the proximal exploration licences.

Farmers in Bale Zone of Oromia State earned over 36 million Ethiopian birr from sale of 485,000kg honey during the first quarter of the current fiscal year, Ethiopian News Agency reported citing the Zonal Livestock Development and Health Office.

Hawassa University Technology Institute said it is undertaking an expansion project at a cost of 500 million Ethiopian birr to increase its enrollment capacity and quality of education, Ethiopian News Agency reported.