UK MARKET TALK ROUNDUP: BROKERS COMMENTS

26th Jul 2010 07:41

Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0641 GMT [Dow Jones] Tullow Oil's (TLW.LN) latest oil discovery offshore Ghana in the Owo field is "really exciting," and could add a billion barrels to the resource estimate for the area, says Panmure Gordon analyst Peter Hitchens. If Owo had not found oil, resources in the greater Tweneboa area would probably have been capped at 400 million barrels of oil equivalent, but the new find makes it more likely that the area contains around 1.4 billion boe, he says. Owo is also potentially more valuable to Tullow than the Jubilee field's estimated 1.5 billion boe because it has a larger stake of 49.95%, he adds. Has a buy rating, 1500p target price. Shares closed Friday at 1179p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 26, 2010 02:41 ET (06:41 GMT)