Thursday, April 10, 2014

Tullow gains 3% on Ghana oil hopes

Jubilee field could produce more barrels per day than budgeted, says Tullow partner
Tullow Oil shares have picked up recently after earlier weakness on a series of drilling disappointments.
They have added another 28.5p to 848p as the Ghana National Petroleum Corporation said the Jubilee field - where Tullow holds a 35.5% stake - could produce more oil than the budgeted 100,000 barrels per day. The corporation said the average production as of March 25 was 104,000 barrels and this could hit 105,000 to 110,000 in 2014.

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