Tullow Oil plc is one of the largest independent oil and gas, exploration and production companies in Europe. Tullow Oil produces over 56,000 boepd, with a primary focus on UK Gas and West African Oil, underpinned by development projects in the UK, Africa and South Asia.

            Red = 25 day moving average.           Green = 200 day moving average.

they don't need to ... TLW have pre-emption rights at the same price that ENI paid

Important news today....

yes, but no surprise .....
TLW exercises its pre-emption rights over HOIL Uganda block

A technical tip on uk-analyst

More good news:
Buliisa Tullow Oil has discovered more oil in Bunyoro sub-region, the firm has announced. "Tullow Oil plc announces that the Nsoga-5 appraisal well, which is located in the Butiaba region of Uganda Block 2, has successfully encountered 10 metres of net oil pay," a July 15 statement posted on the company's website reads in part.

Endless discoveries

Uganda continues to enjoy back to back oil discoveries in the Albertine grabben where oil explorers are exploring for oil. The explorers have so far discovered over 2 billion reserves of petroleum deposits in the grabben. Commercial oil production is anticipated to commence next year. According to the statement, the Nsoga-5 appraisal well was drilled to a total depth of 587 metres, 2.3 km to the north-east of the Nsoga-1 discovery well, targeting equivalent reservoirs in a previously un-drilled fault block.

Production potential

"The successful Nsoga-5 well was the first of a multi-well appraisal programme planned to further evaluate the extent and production potential of oil accumulations in the greater Nsoga area" the statement said.

The OGEC IRI-750 rig will now move 2 km south to the Kigogole Field where it will drill the Kigogole-5 appraisal well. Tullow Oil has interests in three licenses in the Lake Albert Rift Basin in Uganda. The company operates Block 2 with a 100 per cent interest and has a 50 per cent interest in Blocks 1 and 3A which are operated by Heritage Oil (50 per cent).

TLW continues its amazing run of successful drillings ....

Owo-1 exploration well discovers new oil field
26 July 2010 - Tullow Oil plc (Tullow) announces that the Owo-1 exploration well in the Deepwater Tano licence offshore Ghana has intersected a significant column of excellent quality light oil. Results of drilling, wireline logs and samples of reservoir fluids have established Owo as a major new oil field requiring further appraisal.

Not exactly very generous with the dividend....glad I sold out the other week.

Market not impressed with latest news??

Tullow acquires a 50% interest of the East African Rift Basins of Kenya and Ethiopia
2 September 2010 - Tullow Oil plc ("Tullow") announces the acquisition of a 50% operated interest in six adjacent licences covering the East African Rift Basins of Kenya and Ethiopia, an area of 97,000 sq km.

Tullow has signed agreements with Africa Oil Corp ("Africa Oil") to gain a 50% interest in five licences; Blocks 10BB, 10A, 12A and 13T in Kenya and the South Omo Block in Ethiopia. This acquisition expands on the farm-in to Block 10BA from Centric Energy ("Centric") announced in August.

Under the terms of the agreements with Africa Oil, Tullow will reimburse pro-rata past costs in each of these blocks and will carry Africa Oil for future net expenditures up to US$23.75 million.

This East African Rift Basin acreage shares many geological attributes with Tullow's Lake Albert Rift Basin position in Uganda however it is approximately ten times larger. The acreage, which is located 500 km to the east of Lake Albert has good evidence of a live oil system. The Loperot-1 well drilled in 1992 recovered 29 degree API waxy crude from Miocene sandstones. Seismic programmes are planned for the acreage in 2010 and 2011 and the first wells are expected to be drilled next year.

RF - well i'm glad i topped up by 1/3 a few days back ..... it will be very jolly if this rumoured comes to owt

glad i hold a few tooooo.,.

time for another beer in the hot barca sun i think ..... tough this work stuff! ..... back thursday afternoon

any mail???

office or aol?
haven't checked aol for last 2 days, but thanks for silliness .... why should i be offended by an Amish joke?

Sep 10, 2010
Tullow becomes operator in Kenya, Ethiopia

The scramble for acreage in East Africa continues apace, with Tullow Oil taking operatorship of five blocks in Kenya and Ethiopia, previously held by Africa Oil Corp. cover 37,452 sq miles (97,000 sq km). The blocks also are adjacent to the Centric Energy block in Kenya into which Tullow farmed last month.

Tullow believes this East African Rift Basin acreage shares several geological attributes with its Lake Albert Rift Basin position in Uganda, but is 10 times larger.

The deal covers a 50% interest in blocks 10BB, 10A, 12A, and 13T in Kenya, and the South Omo block in Ethiopia. Tullow has agreed to pay 50% of past costs and will carry Africa Oil for US $23.75 million of net future costs.

The acreage, which is 311 miles (500 km) east of Lake Albert, has good evidence of a live oil system. The Loperot-1 well drilled in 1992 recovered waxy crude from Miocene sandstones. Seismic programs are planned for the acreage in 2010 and 2011, and the first wells are expected to be drilled next year.