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

TULLOW OIL (TLW)
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Tullow Finds More Than 100 Meters Of Net Oil In Kenyan Well

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05/07/2012 | 02:23pm CEST

Tullow Oil PLC (>> Tullow Oil plc) said Monday that it has encountered in excess of 100 meters of net oil pay, or thickness, at its Kenyan well.

The discovery was across several reservoir zones and came as Tullow deepens its Ngamia-1 well.

"The net pay encountered so far in Ngamia-1 is more than double that encountered in any of our East African exploration wells to date," said Angus McCoss, exploration director at Tullow. "We now look forward to the drilling and evaluation of the deeper potential of this well and the acceleration of our seismic and drilling campaigns in the region."

Ngamia-1 will be drilled to a depth of 2,700 meters, the company said.

In March the London-listed explorer said it found oil at a well in the north-western region of Turkana, where it was assessing the commercial viability of crude prospects in the Ngamia geological structure. The discovery follows major finds in Ghana, Uganda and French Guiana.

Tullow has a 50% operated interest in seven onshore licenses in the Kenya & Ethiopia Rift Basins covering in excess of 100,000 square kilometers.

-By Max Colchester, Dow Jones Newswires; +44 (0) 207 842 9295, [email protected]

Stocks mentioned in the article : Tullow Oil plc, Tullow Oil plc
Stocks mentioned in the article
ChangeLast1st jan.
TULLOW OIL 1.04% 233.6 Delayed Quote.11.81%
TULLOW OIL PLC 0.00% 2.65 End-of-day quote.16.59%
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Financials ($)
Sales 2018 1 770 M
EBIT 2018 677 M
Net income 2018 291 M
Debt 2018 2 793 M
Yield 2018 0,05%
P/E ratio 2018 16,05
P/E ratio 2019 15,34
EV / Sales 2018 4,13x
EV / Sales 2019 3,76x
Capitalization 4 523 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 2,85 $
Spread / Average Target -12%
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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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