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Stock Market & Financial Investment News

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December 17, 2012
10:49 EDTXOMExxon Mobil affiliate to begin exploration activities offshore South Africa
Exxon Mobil announced that its affiliate, ExxonMobil Exploration and Production South Africa Limited, will soon begin exploration activities offshore South Africa. The ExxonMobil affiliate signed an agreement with Impact Africa Limited, a subsidiary of Impact Oil & Gas Limited, to acquire a 75% participating interest in the Tugela South Exploration Right and will become operator. Under the agreement, the affiliate also has the right to acquire 75% participating interests in future exploration rights in three offshore areas covered by technical cooperation permits currently held by Impact. These exploration rights and the affiliate’s participating interest in them are subject to South African government approval. The Tugela South Exploration Right covers approximately 2.8 million acres offshore Durban on the east coast of South Africa with water depths extending from the coastline to approximately 6,500 feet. The future exploration rights cover an additional 16 million acres offshore with water depths extending from the coastline to approximately 9,800 feet. Separately, the ExxonMobil affiliate also has executed a technical cooperation permit with the South African government to study the hydrocarbon potential of the Deepwater Durban Basin covering approximately 12.4 million acres offshore Durban. A technical cooperation permit is an exclusive right to study an area for one year.
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April 22, 2014
07:30 EDTXOMExxon closes U.K. pipeline as police probe fuel robbery, Reuters says
Exxon Mobil closed one of the U.K's primary underground fuel pipelines after police discovered a stash of diesel they thought was siphoned off by robbers, according to Reuters, citing a statement from the police officers involved. Reference Link
April 16, 2014
18:38 EDTXOMFidelity Contrafund adds to Tesla position, Reuters says
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