News Column

Tullow strikes oil off Norway

July 4, 2014

SUZIE NEUWIRTH



TULLOW Oil, the fourth largest oil and gas explorer listed in London, yesterday cheered investors with a discovery off Norway.


Shares in the firm climbed over one per cent on news that the Hanssen well, in which it holds a 20 per cent stake, had encountered oil and gas. The discovery gave Tullow a boost after it announced on Wednesday that it had taken a $415m (242m) exploration write-off due to disappointing results.


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Source: City A.M. (UK)


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