Gulf Energy to acquire Tullow Kenya for $120m.

Gulf Energy, a provider of energy solutions, agreed to acquire Tullow Kenya, an independent energy company, for $120m. “We are pleased to announce the signing of the Kenyan SPA, marking another step closer to completion of the Transaction with Gulf Energy. For a total consideration of at least US$120 million, the Transaction supports our strategic priority to strengthen the balance sheet, with the first two payments totalling $80m expected before the end of the year," Richard Miller, Tullow CFO and Interim CEO.