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TLW Tullow Oil Plc

35.48
0.38 (1.08%)
Last Updated: 09:58:23
Delayed by 15 minutes
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

Tullow Oil Strikes Oil in Northern Kenya Well

17/05/2017 10:14am

Dow Jones News


Tullow Oil (LSE:TLW)
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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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