Tullow Stands By Its Claim As Congo Gives Blocks To Other Cos

24th Jun 2010 13:49

LONDON (Dow Jones)--Tullow Oil PLC (TLW.LN) said Thursday that it had no doubt about the validity of its claim on two oil blocks in Congo and was reviewing its options after they were awarded to unknown companies. A decree, supplied to Dow Jones Newswires by non-governmental website www.leganet.cd and signed Friday by President Joseph Kabila, shows blocks 1 and 2 of the Albertine Graben were awarded to a partnership between Caprikat Ltd. and Foxwhelp Ltd. Tullow, along with partners Heritage Oil Plc (HOIL.LN) and Cohydro, had been awarded the licences by the government in 2006 but they were still awaiting ratification by President Kabila. A Tullow spokesman said: "We are reviewing our options but have no doubt about the legal validity of our claims to these blocks." Heritage couldn't immediately comment and Cohydro couldn't be reached. -By Benoit Faucon, Dow Jones Newswires; +44-20-7842-9266; [email protected] (END) Dow Jones Newswires June 24, 2010 08:49 ET (12:49 GMT)