Tullow Oil focuses on financial di

Some of the smartest hedge funds are betting on more bad news for Tullow, despite founder Aidan Heavey's insistence on 'plump' years ahead

Tullow Oil's Aidan Heavey

Hard-pressed explorer Tullow Oil said it expects to make a gross profit of $300 million (€267 million) for the first half of the year, up from $200 million a year earlier, largely due to higher output and an insurance payment, while it also expects to further reduce its debt burden.

In a trading update ahead of the release of first-half results on July 26, the oil and gas explorer said it was making ...