Tullow Oil to sell Kenyan assets to Gulf Energy for $120 million 

LONDON: Tullow Oil plc announced Monday that its subsidiary, Tullow Overseas Holdings BV, has agreed to sell its Kenyan operations to Gulf Energy Ltd. for a minimum of $120 million.  The deal includes an initial $40 million payment upon completion, followed by two additional $40 million payments tied to project milestones. Tullow will also receive potential royalty…

SDX Energy sells 50% stake in North West Gemsa licence for $3.0 million to Gulf Energy

LONDON: SDX Energy Plc, the MENA-focused oil and gas company, announced that it has disposed of its 50% working interest in the North West Gemsa licence, situated in the Eastern Desert of Egypt. The purchaser, Gulf Energy, a private Egyptian oil and gas company, has paid US$3.0 million in consideration for the Company’s interest, of…