MARKET TALK: Tullow On Track In Uganda - Panmure Gordon

6th Jul 2010 07:34

0634 GMT [Dow Jones] Tullow Oil (TLW.LN) appears to be on track to close its Uganda asset deal with Heritage Oil (HOIL.LN), Total (TOT) and Cnooc (CEO), says Panmure Gordon analyst Peter Hitchens. "It appears Tullow has everything all sorted out apart from getting it all signed," he said, adding that full closure of the deal may take a few more weeks. Tullow will probably have little news to drive shares over the summer, but in September will drill new wells that are potentially very exciting, he adds. Gives 1500p target, buy rating. Shares closed down 0.5% Monday at 1041p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 06, 2010 02:34 ET (06:34 GMT)