Tullow Oil updates market on Ghana operations

Oil and gas exploration company Tullow Oil has ackowledged disclosures relating to its offshore Ghana mining operations by Kosmos Energy in association with a secondary offering for Kosmos shares.

Oil and gas exploration company Tullow Oil has ackowledged disclosures relating to its offshore Ghana mining operations by Kosmos Energy in association with a secondary offering for Kosmos shares.

US explorer Kosmos Energy reported that in January: "The company relinquished the discovery area associated with the Banda discovery on the West Cape Three Points Block, as the company does not consider this discovery to be commercially viable following additional seismic evaluation and interpretation."

Subscribe to MoneyWeek

Become a smarter, better informed investor with MoneyWeek.

Further to the update on the West Cape Three Points Block, Kosmos reported that it had submitted a declaration of commerciality and plan of development for three discoveries on the Deepwater Tano Block offshore Ghana.

It said that the plan of development for the three discoveries was for a flexible and expandable development, with an initial base capacity of 80,000 barrels of oil per day.

Advertisement
Advertisement - Article continues below

Tullow Oil stated that it would provide further updates in its 2012 financial results statement, which is due to be issued on February 13th.

MF

Advertisement

Recommended

Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020
Visit/investments/stocks-and-shares/share-tips/600636/class-acts-going-cheap-buy-into-europes-best
Share tips

Class acts going cheap: buy into Europe’s best bargains

Value investing appears to be making a comeback, while shares on this side of the Atlantic are more appealing on metrics such as price/earnings ratios…
16 Jan 2020

Most Popular

Visit/investments/property/601065/what-does-the-coronavirus-crisis-mean-for-uk-house-prices
Property

What does the coronavirus crisis mean for UK house prices?

With the whole country in lockdown, the UK property market is closed for business. John Stepek looks at what that means for UK house prices, housebuil…
27 Mar 2020
Visit/personal-finance/mortgages/601045/coronavirus-what-it-means-for-your-mortgage-or-your-rent
Mortgages

Coronavirus: what it means for your mortgage or your rent

Ruth Jackson-Kirby looks at all the key questions for owners, renters and landlords affected by the coronavirus crisis.
29 Mar 2020
Visit/economy/small-business/601073/furlough-what-does-it-mean-and-how-does-it-affect-me
Small business

Furlough: what does it mean and how does it affect me?

Many companies have “furloughed” employees after they have shut down because of the coronavirus. But what does furlough mean and how does the scheme w…
30 Mar 2020
Visit/investments/stockmarkets/601068/buy-stocks-for-the-long-term-but-buy-very-carefully
Stockmarkets

Buy stocks for the long term, but buy very carefully

After the wild ride of the last couple of weeks, equities are no longer expensive. But if you do decide to buy, be very, very careful indeed, says Mer…
30 Mar 2020