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.
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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
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