Tullow bid to raise $750m for debts ‘premature’, say RBC analysts

Irish oil exploration firm is “becoming a more credible takeover target”

Barry J Whyte

Chief Feature Writer @whytebarry
26th March, 2017
Chief executive Aidan Heavey

Plans by the Africa-focused Irish oil explorer,Tullow Oil, to raise $750 million to help tackle its debts are “premature”, according to research by investment bank RBC.

The bank also said that while Tullow is “becoming a more credible takeover target” a border dispute between Côte d’Ivoire and Ghana, which is likely to have a bearing on the company’s TEN oil fields, could deter any bidders until after October 2017....

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