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

Delayed Quote. Delayed  - 05/26 05:35:11 pm
201.5 GBp   -1.80%
05/22 TULLOW OIL : Shareholders Unhappy
05/19 TULLOW OIL : to drill more oil wells after Ghana-Ivory Coast maritim..
05/18 TULLOW OIL : Emekuya-1 oil discovery in Kenya
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Tullow Disappoints With No Commercial Oil In Offshore Ghana Well

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05/04/2012 | 10:17am CEST
   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; [email protected]

Stocks mentioned in the article : Tullow Oil plc, Tullow Oil plc, Kosmos Energy Ltd
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Financials ($)
Sales 2017 1 617 M
EBIT 2017 368 M
Net income 2017 135 M
Debt 2017 3 660 M
Yield 2017 -
P/E ratio 2017 22,63
P/E ratio 2018 14,44
EV / Sales 2017 4,47x
EV / Sales 2018 3,73x
Capitalization 3 567 M
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Mean consensus HOLD
Number of Analysts 22
Average target price 2,86 $
Spread / Average Target 11%
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Managers
NameTitle
Paul McDade Chief Executive Officer
Aidan Joseph Heavey Chairman
Les Wood Chief Financial Officer
Angus Murray McCoss Executive Director & Exploration Director
Ian Springett Director
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