Tullow Oil Plc updates about Carapa-1 exploration well

  • Jan 02, 2020 GMT
  • Team Kalkine
Tullow Oil Plc (LON: TLW) has given an update on Carapa-1 well drilling result.
  • The company has reported that the Carapa-1 exploration well, drilled on the Kanuku licence offshore Guyana, has met with around four metres of net oil pay based on early interpretation.
  • Rig site testing has suggested that the oil is 27 degrees API with a sulphur content of less than 1 per cent. The latest drilling results had extended the prolific Cretaceous oil play into the Group's Guyana acreage, while a thorough laboratory analysis of the oil quality will follow in due course.
  • On 2nd January 2020, at the time of writing, GMT 08:05 AM, TLW shares were trading at GBX 58.94, down by 5.06 points or 7.91% against the previous day closing price.

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