Tullow shares rise following Ghana find

UPDATE: Tullow Oil has announced that its Enyenra-4A appraisal well in the Deepwater Tano licence off the coast of Ghana has successfully encountered oil in “very good quality sandstone reservoirs”.

16th March, 2012
Tullow shares rise following Ghana find
Tullow chief executive Aidan Heavey.

Tullow Oil has announced that its Enyenra-4A appraisal well in the Deepwater Tano licence off the coast of Ghana has successfully encountered oil in “very good quality sandstone reservoirs”.

The share price of the company was up 3.1 per cent in London following the announcement. But it was not enough to stop it being downgraded to "Underweight" from "Neutral" at HSBC by equity analyst Peter Hitchens. The HSBC target price is £13.81...

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