Eco (Atlantic) Oil & Gas/ Tullow Oil- A home run first strike… The partners have announced this morning that they have made a major oil discovery offshore Guyana at the Jethro-1 well. The well proves 55 metres of Net High Quality Pay on the Orinduik Block in the Lower Tertiary sandstone reservoir and confirms multiple prospects up-dip of recent discoveries notably by Exxon in the Stabroek Block. This is a substantial discovery made more important by the high value nature of the barrels it will produce and in a stroke de-risks a lot if not all of the Orinduik Block. The fact that it way exceeded pre-drill estimates does credit to the high quality seismic and the development should be simply done with little appraisal and low cost wells. The Block has 2.5bn barrels of gross unrisked resources and with this find the valuation will be impacted for both these quoted companies, just think what might happen if the Cretaceous can be proved up? This field could be 20km² and with 55m of pay could be huge, those pre-drill estimates of 100m or even 200m might end up being conservative. The Tullow conference call was extremely informative, with few worries about oil/gas mix and porosity and whilst the oil samples are on the way to the lab the way they flowed was clearly encouraging. With 90% net to gross and the oil/water contact plenty deep enough the partners really have hit the jackpot here. And remember that Total farmed-out to Qatar Petroleum before the result was known making both those parties, amongst many others, looking for a bigger piece of this latest oil hotspot… The share price movements this morning have been, as expected, very positive but £250m on Tullow’s market cap and £1oom +on Eco’s is only part of the story. The rig moves off to drill the Joe prospect which whilst a separate play type can only have been materially de-risked by this result. For Eco it is a validation of their strategy and also for Tullow to whom this has been something big and will also go on to be a company changer. There is a long way to go yet for these companies but for Eco in particular it is a success of the most spectacular nature and at 124p the shares still have considerable upside from here.
Tullow Oil Plc (TLW.L) Announced the results of its Jethro-1 exploration well, drilled on the Orinduik licence offshore Guyana by its wholly owned subsidiary Tullow Guyana B.V. The Jethro-1 was drilled by the Stena Forth drillship to a total depth of 4,400m metres in approximately 1,350 metres of water. Evaluation of logging data confirms that Jethro-1 is the first discovery on the Orinduik licence and comprises highquality oil-bearing sandstone reservoirs of lower tertiary age. This discovery significantly de-risks other tertiary age prospects on the Orinduik licence, including the shallower Upper Tertiary Joe prospect which will commence drilling later this month following the conclusion of operations at the Jethro-1 well.
RNS Number: 6416 I Tullow Oil PLC 12 August 2019 News Release. THIS PRESS RELEASE CONTAINS INSIDE INFORMATION. 12 August 2019- Tullow Oil plc announces the results of its Jethro-1 exploration well, drilled on the Orinduik licence offshore Guyana by its wholly owned subsidiary Tullow Guyana B.V..
RNS Number: 4162 H Tullow Oil PLC 31 July 2019. Tullow Oil plc Total Voting Rights. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Tullow Oil Plc (TLW.L) Announced, in its results for the six months ended 30 June 2019, that the sales revenue fell to $872.3 million from $905.1 million posted in the same period preceding year. The company’s profit before tax stood at $268.4 million, compared to profit of $105.5 million reported in the previous year. The basic earnings per share stood at 7.4c compared to earnings per share of 3.9c reported in the previous year. The company’s cash and equivalents stood at $362.3 million.
Group delivers $0.9 bn revenue; $0.1 bn profit after tax; $0.2 bn free cash flow. Kenya oil development Heads of Terms signed; FID targeted for second half of 2020. Three-well Guyana exploration campaign under way; Jethro result expected in August.
RNS Number: 9947 E Tullow Oil PLC 09 July 2019 NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 2547 E Euronext Dublin 04 July 2019. 16,000,000 Ordinary Shares GBP 0.10. The Euronext Markets comprise the markets operated by Euronext Amsterdam, Euronext Brussels, Euronext Dublin, Euronext Lisbon, Euronext Paris and Euronext UK Markets, referred to respectively as the Amsterdam, Brussels, Dublin, Lisbon, Paris and London markets, as relevant..
RNS Number: 0807 E Tullow Oil PLC 01 July 2019. Tullow Oil plc Total Voting Rights. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Tullow Oil Plc (TLW.L) Announced, in its operational update, that Group working interest production for the first half of 2019 is expected to average around 89,000 bopd, including production-equivalent insurance payments. The Stena Forth and Maersk Venturer drillships have been working in tandem on Ghana drilling and completion operations throughout the first half of the year with four wells drilled and three wells completed. Significant progress has been made over the first six months of the year in Kenya on both the Early Oil Production Scheme (EOPS) and the Foundation Stage of Project Oil Kenya. In Guyana, Tullow plans to drill two consecutive exploration wells in the second half of 2019 on the Orinduik licence with the Stena Forth drillship which is currently in transit from Ghana. Further, in its guidance in relation to the company’s half year reporting to 30 June 2019 in advance of the Group's half year results release on 24 July 2019, that total revenue is expected to be $0.9bn, gross profit $0.5bn.
RNS Number: 4086 D Tullow Oil PLC 26 June 2019 Tullow Oil plc- Trading Statement& Operational Update. I am particularly pleased with the significant progress we have made in Kenya and the agreement with the Government over a number of key commercial principles will greatly assist us in driving the project to FID. Our exciting and potentially material drilling...
*Where production entitlement is paid in barrels this has been multiplied by the Group's 2018 average realised oil price of $68.5/ bbl. Production entitlements disclosed for Ghana excludes 4,467,372 bbls and 3,067,887 bbls received by GNPC in respect of its equity interest in Jubilee and TEN, respectively.. Production entitlements disclosed for Ghana...
RNS Number: 5799 B Tullow Oil PLC 07 June 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 9719 A Tullow Oil PLC 03 June 2019. Tullow Oil plc Total Voting Rights. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 2621 Z Tullow Oil PLC 16 May 2019 NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 0193 Z Tullow Oil PLC 14 May 2019 NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 7723 X Tullow Oil PLC 01 May 2019. Tullow Oil plc Total Voting Rights. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 1478 X Tullow Oil PLC 25 April 2019 Thursday 25 April 2019. RESULTS OF THE ANNUAL GENERAL MEETING. The number of shares in issue at 6.00 p.m. on 23 April 2019 was 1,402,274,900 ordinary shares of 10 pence each and at that time, Tullow did not hold any Ordinary Shares in treasury.
Tullow Oil Plc (TLW.L) Announced, in its trading update for 1 January to 25 April 2019, that oil production averaged 84,600.00 bopd during the period. This was below expectations following technical issues, which are now resolved, in Ghana. Group full year oil production guidance revised to be between 90,000.00 and 98,000.00 bopd. Current net production is 95,000.00 bopd and is expected to rise to 100,000.00 bopd as additional Ghana wells come on stream. Moreover, at 31 March 2019, net debt was $3.00 billion with $1.00 billion of liquidity headroom and no near-term debt maturities. The company has won three new licences in the Malvinas West Basin in the recent Argentina bid round with work due to begin in 2020.
Tullow Oil Plc
TLW.L
Tullow Oil Plc
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Company Profile

Tullow Oil is an oil and gas explorer with exploration licences throughout Europe, South Asia and Africa. In 2004, it acquired Energy Africa.

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HQ
9 Chiswick Park
566 Chiswick High Road
London
W4 5XT
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