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

Delayed Quote. Delayed  - 08/26 05:35:13 pm
231.2 GBp   +1.63%
07:08p TULLOW OIL : British firm to start oil production in Kenya in 2017
05:10p TULLOW OIL : Raises Kenyas oil Export hopes with March 2017 Producti..
08/25 TULLOW OIL : Kenya to Be an Oil Exporting Country in June 2017
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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, max.colchester@wsj.com

Stocks mentioned in the article : Tullow Oil plc, Tullow Oil plc
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Financials ($)
Sales 2016 1 471 M
EBIT 2016 279 M
Net income 2016 23,6 M
Debt 2016 4 748 M
Yield 2016 -
P/E ratio 2016 33,15
P/E ratio 2017 17,54
EV / Sales 2016 5,09x
EV / Sales 2017 3,90x
Capitalization 2 746 M
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Mean consensus HOLD
Number of Analysts 25
Average target price 3,33 $
Spread / Average Target 11%
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Aidan Joseph Heavey Chief Executive Officer & Executive Director
Simon Robert Thompson Chairman
Paul McDade Chief Operating Officer & Executive Director
Ian Springett Chief Financial Officer & Executive Director
Angus Murray McCoss Executive Director & Exploration Director
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