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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.50 | 1.45% | 35.10 | 34.96 | 35.16 | 35.14 | 34.12 | 34.12 | 3,097,975 | 16:35:16 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 1.63B | -109.6M | -0.0754 | -4.64 | 508.95M |
By Adam Clark
Eco Atlantic Oil & Gas Ltd. (EOG.V) said Friday that a new oil discovery by Exxon Mobil Corp. (XOM) in offshore Guyana has positive implications for its adjacent partially-owned Orinduik license.
Exxon Mobil said Thursday that its Hammerhead-1 well hit oil-bearing sandstone, marking its ninth discovery in offshore Guyana.
Eco said the Exxon Mobile discovery has materially de-risked one of the many similar channel systems in its Orinduik block, in which it has a 40% stake with the remainder held by Tullow Oil PLC (TLW.LN).
Eco and Tullow will shortly be in a position to pick the location for the first well on the Orinduik license, with drilling to begin in mid-2019, Eco said.
At 0730 GMT, Eco Atlantic shares were up 5.4% at 37.20 pence. Tullow shares were up 0.2% at 234.10 pence.
Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones
(END) Dow Jones Newswires
August 31, 2018 03:54 ET (07:54 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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