Wessex down on Jubilee gloom

18th Jan 2012 09:59

Wessex Exploration has fallen today on news of delays to the ramp up of the Tullow-owned Jubilee field in Ghana.Wessex owns a 1.25% stake in the project which, according to reports today, will require $400m in design alterations.It's now thought peak oil production of 120,000 barrels a day will not be reached until 2013.Tullow had dropped 5.63% by 10.24, Wessex was down 12.4% at the same time.Over the last 12 months Wessex shares have risen 56%.BS