Wessex down on Jubilee gloom
Wessex Exploration has fallen today on news of delays to the ramp up of the Tullow-owned Jubilee field in Ghana.
Wessex Exploration has fallen today on news of delays to the ramp up of the Tullow-owned Jubilee field in Ghana.
Wessex owns a 1.25% stake in the project which, according to reports today, will require $400m in design alterations.
It's now thought peak oil production of 120,000 barrels a day will not be reached until 2013.
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 had dropped 5.63% by 10.24, Wessex was down 12.4% at the same time.
Over the last 12 months Wessex shares have risen 56%.
BS
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.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What is a trust – and should you use it to avoid inheritance tax?
Trusts are surging in popularity as a way to avoid inheritance tax, according to financial advisers on the frontline of estate planning. We look at what trusts are and if they are right for you.
-
What will be the consequences of Donald Trump’s "One Big Beautiful Bill"?
The US president’s "One Big Beautiful Bill", an extraordinary mix of tax cuts and spending plans, has made it through both houses of the US Congress. What will be the consequences?