Tullow reports oil shows
Oil and gas firm Tullow has announced that the Mercury-2 exploratory appraisal well in Sierra Leone and the Kosrou-1 exploration well in Côte d'Ivoire have both encountered water bearing reservoirs with oil shows.
Oil and gas firm Tullow has announced that the Mercury-2 exploratory appraisal well in Sierra Leone and the Kosrou-1 exploration well in Cte d'Ivoire have both encountered water bearing reservoirs with oil shows.
Tullow holds a 20% stake in Mercury and 22% in Kosrou.
Angus McCoss, Exploration Director, said: "The existence of thick sandstone fairways and a working hydrocarbon system, proven by every well in our exploration campaign, mean that our West African Transform Margin acreage remains highly prospective.
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
"The well data will now be integrated into our regional models to improve our chances of making a hub-class discovery with the ongoing campaign which includes the Strontium-1 well in Liberia and the Paon-1 well in Cte d'Ivoire."
The share price fell 0.72% to 1,507.00p by 14:46.
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
8 of the best houses for sale with annexes
The best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
By Natasha Langan Published
-
Zelenskyy moves to appease Donald Trump – what happens now?
Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
By Emily Hohler Published