Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Tullow Oil    TLW   GB0001500809

TULLOW OIL (TLW)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Tullow Oil : launches oil, gas exploration in Zambia

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/11/2017 | 03:56pm CEST

British company Tullow Oil on Friday started exploring for oil and gas in Zambia, Africa's No.2 copper producer, as the country pushes to diversify its economy and reduce its reliance on the industrial metal.

Copper mining earns Zambia more than 70 percent of its foreign exchange but the southern African state has been trying to move into other commodities to insulate itself from price shocks.

Zambia does not produce oil, but the government says soil samples sent to European laboratories have shown good traces of crude.

Tullow Executive Vice President Ian Cloke said in a speech during the launch in northern Zambia that exploration would take between two and 10 years, development three to 10 years and production 20-50 years.

"We are exploring over a large area that includes Northern and Luapula provinces," Cloke said, referring to regions in the north of Zambia.

"With Tullow's exploration credentials, I can confidently say that if there is any oil to be found in this area of Zambia, Tullow will find it."

Zambian President Edgar Lungu said at the ceremony that he was eager to receive the findings of the survey and would closely monitor the exploration work.

"Our economy has been dependent on copper and vulnerable to shocks in global copper prices, which lie beyond our control," Lungu said.

(Reporting by Chris Mfula; Editing by James Macharia and Dale Hudson)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TULLOW OIL
12:28p TULLOW OIL : British High Commissioner Welcomes Tullow`s Oil Exploration Project
08/16 TULLOW OIL : British High Commissioner Welcomes Tullow's Oil Exploration Project
08/16 TULLOW OIL : Zambia Commissions First Oil Survey
08/15 EasyJet, IAG boost FTSE as airlines circle over Air Berlin carcass
08/15 TULLOW OIL : Unza Don Calls for Research Partnerships
08/15 TULLOW OIL : UNZA Don calls for research partnerships
08/14 TULLOW OIL : British High Commissioner welcomes Tullow's oil exploration project
08/11 TULLOW OIL : launches oil, gas exploration in Zambia
08/10 TULLOW OIL : To Move To 3D Surveys Of Jamaican Blocks
08/09 CNOOC : Oil refinery, pipeline deals set to transform regional outlook
More news
News from SeekingAlpha
08/07 Uganda picks group including GE to build oil refinery
07/26 Tullow Oil's (TUWLF) CEO Paul McDade on Q2 2017 Results - Earnings Call Trans..
07/26 Tullow Oil reports 1H results
07/26 Tullow Oil reports Q2 results
07/26 Tullow Oil Plc. 2017 Q2 - Results - Earnings Call Slides
Financials ($)
Sales 2017 1 624 M
EBIT 2017 137 M
Net income 2017 -151 M
Debt 2017 3 505 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018 16,54
EV / Sales 2017 3,94x
EV / Sales 2018 3,49x
Capitalization 2 885 M
Chart TULLOW OIL
Duration : Period :
Tullow Oil Technical Analysis Chart | TLW | GB0001500809 | 4-Traders
Technical analysis trends TULLOW OIL
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 2,64 $
Spread / Average Target 26%
EPS Revisions
Managers
NameTitle
Paul McDade Chief Executive Officer & Executive Director
Aidan Joseph Heavey Chairman
Les Wood Chief Financial Officer & Executive Director
Angus Murray McCoss Executive Director & Exploration Director
Tutu Agyare Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
TULLOW OIL-39.13%2 885
CONOCOPHILLIPS-11.25%54 154
EOG RESOURCES INC-13.93%50 250
CNOOC LTD-10.88%48 851
OCCIDENTAL PETROLEUM CORPORATION-14.90%46 348
CANADIAN NATURAL RESOURCES LIMITED-9.29%37 382