Tullow Oil hails excellent start
Oil giant Tullow said it is confident of delivering further significant growth in 2012 after what it called an excellent start to the year.
Oil giant Tullow said it is confident of delivering further significant growth in 2012 after what it called an excellent start to the year.
Year to date financials are in line with expectations, the board said, adding that capital expenditure for 2012 is expected to be in the region of US$2.0bn this year.
As of April 30th 2012, net debt is around $0.5bn and un-utilised debt capacity is about $2.7bn.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Tullow is continuing to deliver outstanding results from its high impact, exploration-led growth strategy. The Uganda farm-down and strong production performance give Tullow a firm financial foundation to carry out its extensive work programmes in Africa and the Atlantic margins," the firm's interim management statement said.
JH
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published