Tullow Oil makes oil find in Uganda
15th Jul 2010 07:15
Tullow Oil has found oil at its Nsoga-5 appraisal well, which is located in the Butiaba region of Uganda Block 2. The group said the well has successfully encountered 10 metres of net oil pay after it was drilled to a total depth of 587 metres. The well has since been suspended for future re-entr
Read moreTullow Oil Nsoga-5 Well Encounters 10 Meters Of Net Oil Pay
15th Jul 2010 07:08
LONDON (Dow Jones)--Tullow Oil Plc (TLW.LN), an oil and gas company, announced Thursday that the Nsoga-5 appraisal well, which is located in the Butiaba region of Uganda Block 2, has successfully encountered 10 meters of net oil pay. MAIN FACTS: -The Nsoga-5 appraisal well was drilled to a t
Read moreUK MARKET TALK ROUNDUP: SHARES LOSING
14th Jul 2010 14:40
Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1340 GMT [Dow Jones] Royal Bank of Scotland lowers Tullow Oil (TLW.LN) target price to 1475p from 1500p. It says Tullow's
Read moreMARKET TALK: Royal Bank Of Scotland Cuts Tullow Oil Target
14th Jul 2010 14:40
1340 GMT [Dow Jones] Royal Bank of Scotland lowers Tullow Oil (TLW.LN) target price to 1475p from 1500p. It says Tullow's relative year-to-date underperformance against peers is likely to reverse in 2H10. "The Uganda farm-out process is an important hurdle, after which we expect the focus to fall on
Read moreUK MARKET TALK ROUNDUP: SHARES LOSING
14th Jul 2010 09:37
Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0837 GMT [Dow Jones] Deutsche Bank cuts Tullow Oil (TLW.LN) price target to 1255p from 1295p. It describes FY '10 as a "p
Read moreMARKET TALK: Deutsche Bank Cuts Tullow Oil Price Target
14th Jul 2010 09:37
0837 GMT [Dow Jones] Deutsche Bank cuts Tullow Oil (TLW.LN) price target to 1255p from 1295p. It describes FY '10 as a "pivotal year" as the company transitions to a more balanced development-exploration business. Deutsche says this will build Tullow's core value, but it notes development lacks the
Read more2nd UPDATE:Ghana Vice President:Country Prepared To Be Oil Economy
10th Jul 2010 19:42
(Updates with additional source information) LONDON (Dow Jones)--Ghana's vice president said Friday that the country has taken the necessary steps to prepare itself to become an oil economy nation. Ghana's giant oil find, the Jubilee Field, is on target to produce its first oil in the fourt
Read moreUPDATE:Ghana Vice President: Country Prepared To Be Oil Economy
9th Jul 2010 17:29
(Adds details on Kosmos.) LONDON (Dow Jones)--Ghana's vice president said Friday that the country has taken the necessary steps to prepare itself to become an oil economy nation. Ghana's giant oil find the Jubilee Field is on target to produce its first oil in the fourth quarter this year,
Read moreUganda's 2009-10 Planned Investment -23% On Economic Downturn
8th Jul 2010 13:59
KAMPALA, Uganda (Dow Jones)--The value of planned investments in Uganda dropped 23% on year during the fiscal year just ended in June due to the effects of the global economic downturn, Uganda's Junior Finance and Planning Minister said Thursday. Ruth Nankabirwa told reporters in Kampala, the Ug
Read moreUPDATE: Tullow Oil Faces Tax On Lake Albert Deal -Uganda Govt
8th Jul 2010 13:27
(Adds share price.) By Nicholas Bariyo Special to DOW JONES NEWSWIRES KAMPALA, Uganda (Dow Jones)--The Ugandan government plans to levy a capital gains tax on Tullow Oil PLC (TLW.LN) when the U.K.-listed company sells part of three oil blocks to its project partners, the head of Uganda's
Read moreTullow Oil To Face Tax On Lake Albert Stake Sale -Uganda Govt
8th Jul 2010 12:48
By Nicholas Bariyo Special to DOW JONES NEWSWIRES KAMPALA, Uganda (Dow Jones)--The Ugandan government plans to levy a capital gains tax on Tullow Oil PLC (TLW.LN) when the U.K.-listed company sells part of three oil blocks to its project partners, the head of Uganda's Petroleum Exploration
Read moreLondon close: Back above 5,000
7th Jul 2010 16:21
Britain's banks staged an impressive turnaround Wednesday that helped carry London out of the red and onto a second day of very respectable gains. High street lenders were unsettled early on as investors waited for details on the nature of European stress tests for about 100 banks. Last-minute hagg
Read moreLondon afternoon: Banks help retrace losses
7th Jul 2010 14:26
London's leading shares have retraced most of the earlier losses as Wall Street starts with some modest gains. Wall Street was expected to begin jittery but moved ahead with tech stocks leading the advance. Banks, which were lower earlier in the day, have now retraced those losses. Lloyds and HSB
Read moreLondon midday: Market struggles despite BP rally
7th Jul 2010 12:07
A cautious update from Marks & Spencer and weak banking shares are weighing on the market despite good showings from BP and Sainsbury's. M&S reported a 3.6% rise in UK like-for-like sales in the first quarter, but is cautious about the outlook for consumer confidence and spending. Like for like sal
Read moreMARKET TALK: E&P Oil Stocks To Have Bumper 2H - UBS >TLW.LN
7th Jul 2010 11:22
1022 GMT [Dow Jones] 2H'10 is likely to be a bumper six months for the E&P sector, given the relative dearth in 1H, says UBS. All European E&Ps in its coverage universe are drilling important prospects in 2H, UBS notes. It says M&A is showing signs of returning with vigour, noting Afren's (AFR.LN) a
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