Member access

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

TULLOW OIL PLC (TLW)

50
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Tullow Oil Clarifies Statement On Ngamia-1 Well

05/25/2012 | 10:58am US/Eastern

Tullow Oil PLC (>> Tullow Oil plc) said Friday that at meeting earlier Friday it was inadvertently indicated that the Ngamia-1 well was drilling into the primary target and that initial results appeared to indicate that the well had intersected further oil bearing sands.

MAIN FACTS:

-Company wishes to clarify that the Ngamia-1 well has encountered oil and gas shows over a gross interval of 140 metres from a depth of 1,800 metres to 1,940 metres.

-The reservoirs are similar to those previously encountered at a shallower depth; well will continue to be drilled to a total depth of 2,700 metres and then logged and sampled.

-This is expected to take a further three weeks to complete.

-Shares at 1441 GMT, up 29 pence, or 2.13%, at 1,392 pence valuing the company at GBP12.6 billion.

-By Rory Gallivan, Dow Jones Newswires; 44-20-7842-9411; rory.gallivan@dowjones.com

Stocks mentioned in the article : Tullow Oil plc, Tullow Oil plc
React to this article
Latest news on TULLOW OIL PLC
04/25 TULLOW OIL : says 'TEN' oil project 'can move ahead' after court ruling
04/25DJTullow Says Ghana Oil Project Can Move Ahead After Court Ruling--Update
04/25DJTULLOW OIL : Receives Positive News in Tribunal Ruling on Operations Between Gha..
04/24 TULLOW OIL : *credit suisse raises tullow oil price target to 435 (420) pence - ..
04/23DJEurope's Oil Companies Eyed for Takeover
04/22 Analysis - Billions at risk for Ghana, oil firms from oil boundary ruling
04/20 TULLOW OIL : PRESS: David Cameron Intervenes In Gabon Oil Disputes - FT
04/20DJCnooc Seeks Contractor for Ugandan Oil Project's Final Development Plan
04/20 TULLOW OIL : *socgen cuts tullow oil price target to 440 (460) pence - 'hold'
04/16 CITIGROUP : Citi sees Tullow selling Kenya oil ahead of its Uganda production
Advertisement
Chart
Duration : Period :
Tullow Oil plc Technical Analysis Chart | TLW | GB0001500809 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF