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

TULLOW OIL (TLW)
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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
Stocks mentioned in the article
ChangeLast1st jan.
ANADARKO PETROLEUM -2.13% 67.59 Delayed Quote.31.11%
KOSMOS ENERGY LTD -4.44% 7.1 Delayed Quote.8.47%
TULLOW OIL -4.09% 234.4 Delayed Quote.25.31%
TULLOW OIL PLC -4.61% 2.71 End-of-day quote.19.23%
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Financials ($)
Sales 2018 1 914 M
EBIT 2018 835 M
Net income 2018 374 M
Debt 2018 2 741 M
Yield 2018 0,29%
P/E ratio 2018 11,73
P/E ratio 2019 12,32
EV / Sales 2018 3,71x
EV / Sales 2019 3,37x
Capitalization 4 361 M
Chart TULLOW OIL
Duration : Period :
Tullow Oil Technical Analysis Chart | TLW | GB0001500809 | 4-Traders
Technical analysis trends TULLOW OIL
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Average target price 3,08 $
Spread / Average Target -1,2%
EPS Revisions
Managers
NameTitle
Paul McDade Chief Executive Officer & Executive Director
Aidan Joseph Heavey Chairman
Sandy Stash EVP-Safety, Operations, Engineering & External
Les Wood Chief Financial Officer & Executive Director
Angus Murray McCoss Executive Director & Exploration Director
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EOG RESOURCES13.97%68 167
OCCIDENTAL PETROLEUM CORPORATION15.84%63 099
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