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Tullow makes Guyana discovery

Tullow makes Guyana discovery

Tullow Oil (TLW) has delivered the goods with a wildcat well in Guyana, sparking a 16 per cent share price jump. The producer and explorer said it had found 55 metres of net oil pay at the Jethro-1 prospect, which it said supported a recoverable oil resource estimate higher than the 150m barrels of oil (boe) it had previously assigned to the well.  Tullow chief executive Paul McDade said it was a “substantial and high value oil discovery”. The company owns 60 per cent of the  Orinduik block, with Total (25 per cent) and TSX explorer Eco Atlantic (15 per cent) holding the rest.

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