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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tullow Oil Plc | LSE:TLW | London | Ordinary Share | GB0001500809 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.38 | 1.08% | 35.48 | 35.48 | 35.68 | 35.50 | 34.50 | 34.50 | 342,168 | 09:58:23 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 1.63B | -109.6M | -0.0754 | -4.67 | 512.44M |
By Philip Waller
LONDON--Tullow Oil PLC (TLW.LN) on Wednesday said it had struck oil in a well in northern Kenya.
The oil and gas explorer and producer said it had found about 75 meters of net oil pay in two zones in the Emekuya-1 well in block 13T in the South Lokichar Basin.
Tullow said the well penetrated reservoir-quality Miocene sandstones similar to those in the successful Etom-2 well and at the same static pressure gradient, indicating that a big part of the Greater Etom structure is oil-filled.
The company will now move the drilling rig to drill an appraisal well on Greater Etom.
Tullow operates blocks 13T and 10BB with 50% equity and is partnered by Africa Oil Corporation and Maersk Oil with 25% apiece.
Shares were up 5.5 pence, or 2.7%, at 206.7 pence.
-Write to Philip Waller at philip.waller@wsj.com
(END) Dow Jones Newswires
May 17, 2017 04:59 ET (08:59 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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