Tullow Oil prices rise again

Recent acquisitions and higher gas and oil prices has helped Tullow Oil record impressive results for 2005.

Shares in Dublin rose by four cents to E5.09 and prospects for the group in Uganda look very promising for the coming year, with Chief Executive Aidan Heavey revealing that the company will drill four more wells in the African country this year.
Overall, Tullow Oil will drill between 15 and 20 wells in search of oil and gas. Company chairman Pat Plunkett is confident that the good times will continue.

“Tullow believes there is an opportunity over the coming years for the group to continue to build a truly pan-African oil and gas business. During 2005 we invested over £139 million in our African business with exceptional results.”