Tullow Oil declines after Northern Petroleum issues JV well update

Tullow Oil saw its shares drop significantly after its joints venture partner Northern Petroleum gave an update on one of its wells at its joint venture project in French Guiana.

Tullow Oil saw its shares drop significantly after its joints venture partner Northern Petroleum gave an update on one of its wells at its joint venture project in French Guiana.

Following an announcement by Northern Petroleum, the company confirmed that the GM-ES-3 well, which to-date has had no significant hydrocarbon shows, will be drilled deeper in the hope that it will provide information that is crucial to developing the companies' understanding of the exploration potential of the area.

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