By Razak Musah Baba
LONDON--Tullow Oil PLC (TLW.LN) said Thursday that its Twiga-2
exploratory, or sidetrack, well in Kenya has found indications of
oil in the area north of its primary Twiga-1 well.
Angus McCoss, exploration director, said "the combined results
from Twiga-2 and its successful sidetrack confirm the resource
potential and have given us valuable insights for the locations of
future exploration and development wells."
The well is being deepened to evaluate the Lower Lokhone
potential and a testing program for this well is planned to be
conducted later this year, the company said.
Tullow Oil partners with Africa Oil in Blocks 10BB and 13T in
Northern Kenya. Tullow holds a 50% operating interest.
Tullow Oil PLC shares closed Wednesday at 884 pence, valuing the
company at GBP8.04 billion.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
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