Tullow buys stakes in rift basin blocks
2nd Sep 2010 07:46
Tullow Oil is to buy a half-share in five licences in the East African rift basins of Kenya and Ethiopia. Africa Oil Corp has sold Tullow 50% stakes in blocks 10BB, 10A, 12A and 13T in Kenya and the South Omo block in Ethiopia, an area covering 97,000 square kilometres. Under the terms of the agre
Read moreHeritage Oil Shares Surge On Dividend News
2nd Aug 2010 13:58
London (Dow Jones)--Shares in Heritage Oil PLC (HOIL.LN) soared Monday after the company announced the payment of a special 100 pence a share dividend following the sale of the company's Uganda assets to Tullow Oil PLC (TLW.LN). The two companies completed the $1.45 billion deal last week after
Read moreUganda To Decide On Heritage Tax Arbitration In 2 Weeks-Official
29th Jul 2010 11:42
KAMPALA, Uganda (Dow Jones)--The Ugandan government in the next two weeks will decide whether to refer a tax dispute with Heritage Oil PLC (HOIL.LN) to international arbitration or to local courts, the junior minister of Energy and Minerals Development told Dow Jones Newswires Thursday. Heritage
Read moreLondon close: Thumbs down for company updates
28th Jul 2010 16:36
Company updates gave traders plenty to mull over and after an uncertain start to the day, shares closed firmly in the red. Centrica slipped even after the British Gas owner's underlying interim profits jumped 65%. Earnings in the half-year to June rose to £886m from £537m on revenues of £11.7bn, ba
Read moreLondon afternoon: US durable goods blow for equities
28th Jul 2010 14:56
With US markets opening on a weak note leading stocks in London have continued their downward drift. US stocks fell back after US durable goods orders in June fell for a second successive month. June's 1% fall was in contrast to expectations of a rise of similar magnitude. Centrica is in retreat ev
Read moreLondon midday: Shares turn south
28th Jul 2010 12:17
Mining stocks are doing their bit to shore up the Footsie but the majority of leading shares are now in retreat, including most of the big names that issued corporate updates today. Higher metal prices boost demand for miners such as Xstrata, Vedanta and BHP Billiton. Rio Tinto is also wanted after
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
28th Jul 2010 08:54
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] 0754 GMT [Dow Jones] Tullow Oil (TLW.LN) encounters more than 40 meters of net oil bearing reservoir at its Ngiri-2 appraisal
Read moreMARKET TALK: Tullow Uganda Well Boosts Asset Value - Evolution
28th Jul 2010 08:54
0754 GMT [Dow Jones] Tullow Oil (TLW.LN) encounters more than 40 meters of net oil bearing reservoir at its Ngiri-2 appraisal well in Uganda, "the largest net pay to date in the Butiaba region," says Evolution Securities. "We believe [Wednesday's] result is likely to add in the order of 5p-10p to ou
Read moreLondon open: Footsie higher after results flood
28th Jul 2010 08:47
London's blue chips have opened despite a mixed reception to some of the announcements on another busy day for company results. Banks are still going well after the reports yesterday that new capital requirements might be less onerous than previously expected. Royal Bank of Scotland and Barclays ar
Read moreTullow finds more oil in Uganda
28th Jul 2010 07:42
Tullow Oil's Ngiri-2 appraisal well in the Butiaba region of Uganda Block 1 has encountered over 40 metres of net oil bearing reservoir, the thickest oil pay so far encountered in the Butiaba area. The well, 1.7 km north of the Ngiri-1 discovery well, was drilled down to 892 metres where reservoir
Read moreLondon pre-open: Solid start expected
28th Jul 2010 07:34
Traders expect London's blue chips to open around 16 points higher Wednesday morning on another busy day for company results. Centrica is heading for more controversy over energy prices after the British Gas owner's underlying interim profits jumped 65%. Earnings in the half-year to June rose by 65
Read moreTullow Oil : Over 40 Meters Net Oil Bearing Reservoir Uganda Block 1
28th Jul 2010 07:18
LONDON (Dow Jones)--Tullow Oil PLC (TLW.LN) Wednesday announces that the Ngiri-2 appraisal well, located in the Butiaba region of Uganda Block 1, has encountered over 40 meters of net oil bearing reservoir in two zones within an overall 131 meter gross oil bearing interval. MAIN FACTS: -The
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
27th Jul 2010 10:49
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0949 GMT [Dow Jones] Credit Suisse raises Tullow Oil (TLW.LN) price target to 1504p from 1449p following the announcement
Read moreMARKET TALK: Credit Suisse Raises Tullow Oil Price Target
27th Jul 2010 10:49
0949 GMT [Dow Jones] Credit Suisse raises Tullow Oil (TLW.LN) price target to 1504p from 1449p following the announcement of a significant new find offshore Ghana. The two highly-pressurized reservoir zones encountered in the Owo well contain light oil, which is higher in value than the 'gassy' oil
Read more3rd UPDATE:Heritage Completes Sale Of Uganda Blocks To Tullow
27th Jul 2010 10:45
(Adds details, background, share price) By Spencer Swartz Of DOW JONES NEWSWIRES LONDON (Dow Jones)--After months of delay, Heritage Oil PLC (HOIL.LN) said Tuesday it has completed the sale of its two Uganda oil blocks to Tullow Oil PLC (TLW.LN) for $1.45 billion and said it intends to p
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