Member access

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

TULLOW OIL PLC (TLW)

29
Delayed Quote. Delayed London Stock Exchange - 07/22 11:35:20 am
770 GBp   +0.07%
11h ago TULLOW OIL : Well update, Norway
1d ago TULLOW OIL : Plugs Lupus Exploration Well in PL 507
1d ago SWALA ENERGY : Commits to Drill in Kenya Block 12B
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

Tullow Disappoints With No Commercial Oil In Offshore Ghana Well

05/04/2012 | 04:17am US/Eastern
Recommend:
0
   By Sarah Kent 
   Of  
 

London-listed oil exploration and production company Tullow Oil PLC (>> Tullow Oil plc) disappointed investors Friday as its partner in an offshore Ghana project reported negative results from an appraisal well.

The operator, Kosmos Energy Ltd. (>> Kosmos Energy Ltd), announced late Thursday it is plugging and abandoning the Teak-4A well, after failing to find commercial reservoirs. The well is located in the West Cape Three Points Block.

Tullow owns a 26% stake in the West Cape Three Points Block, while Kosmos and Anadarko Petroleum Corp. (APC) each have a 31% interest and Sabre Oil & Gas Holdings Ltd. holds 2%. Ghana National Petroleum Corp. has a 10 percent carried interest in the project.

"Tullow's struggling to live up to its share price at the moment," said Stuart Joyner, head of oil and gas at Investec Securities. "It's had some successes in Kenya, but in Ghana, which is the core area for the company, it's been mixed."

At 0739 GMT, shares in Tullow Oil were down 1.7%, or 26 pence, at 1531 pence, briefly making it one of the biggest decliners among the FTSE-100 index in early trade. The broader FTSE-100 index was down 0.2%.

By Sarah Kent, Dow Jones Newswires;4420-7842-9376; sarah.kent@dowjones.com

Stocks mentioned in the article : Tullow Oil plc, Tullow Oil plc, Kosmos Energy Ltd
Recommend :
0
React to this article
Latest news on TULLOW OIL PLC
11h ago TULLOW OIL : Well update, Norway
1d ago SWALA ENERGY : Commits to Drill in Kenya Block 12B
1d ago TULLOW OIL : Plugs Lupus Exploration Well in PL 507
1d ago TULLOW OIL : to Farm into Eco Atlantic's Cooper Block, Offshore Namibia, Resulti..
1d agoDJTullow Oil Abandons North Sea Well After Failing to Find Oil
1d ago TULLOW OIL : Well update - Norway
3d ago CNOOC : Can government give with one hand, take with other?
3d ago ECO ATLANTIC OIL & GAS : Tullow to Farm into Eco Atlantic's Cooper Block
4d ago TULLOW OIL : Ugandan Tax Appeals Tribunal delivers ruling
4d ago TULLOW OIL : to Challenge URA Tax Ruling
Advertisement
Chart
Duration : Period :
Tullow Oil plc Technical Analysis Chart | TLW | GB0001500809 | 4-Traders
Income Statement Evolution
Tullow Oil plc : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF