MARKET TALK: Tullow's Owo Discovery Is World Class - NCB

26th Jul 2010 08:04

0704 GMT [Dow Jones] Tullow Oil's (TLW.LN) latest discovery offshore Ghana, the Owo field, is world class, says NCB Stockbrokers analyst Peter Hutton. The field contains light oil, which considerably improves the economics, and will move Tullow materially closer to its top-end resource estimate of 1.4 billion barrels of oil equivalent for Owo and its neighbouring discovery Tweneboa, he says. "This gets Tweneboa/Owo over commerciality by some measure," he says. Shares +5.3% at 1241p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 26, 2010 03:04 ET (07:04 GMT)