Financial Times - TLWMarkets starting to grasp the significance of Kenya to TLW:AOI. Carnegie AOI update to 105 SEK this morning (17 CAD)
news Investors should drill into Tullow Oil, FT says Thu, 16th Jan 2014 10:44 Tullow Oil should be a play for investors despite a 50 per cent fall in the explorer and producer's shares in the last two years, according to a respected British newspaper investment column. Failure to significantly boost 2013 oil and gas production against that of 2012 and a poor run of drilling results last year has reduced the appeal of the stock, according to the Financial Times' Lex Column. But investors are overlooking Tullow's competitive edge in Africa, where it has done a lot to establish the continent's oil and gas potential, Lex said. Tullow, which has exploration licences throughout Europe, South Asia and Africa, made its name over the past decade opening new oil areas in Ghana and Uganda, as well as Kenya. They also are not taking into account the company's appeal as a potential takeover target, the paper said. Earlier this week, Tullow doubled its estimate of its find in Kenya's South Lokichar basin to 600 million barrels following two successful well results. "Tuesday's trading update was a reminder of why it should pay to own Tullow again," Lex said. Shares in Tullow rose 28p to 891p in mid-morning trading in London. PW