Bangladesh gas find good news for Tullow Oil
The company found gas at Lalmai, which is one of three wells it had drilled in the south-east Asian country this year. The markets reacted favourably to the news and added almost 2% to Tullow’s share price.
Tullow chief executive Aidan Heavy said it was too early to determine the commercial value of the discovery, but that there was “considerable upside potential”. Mr Heavy said Tullow was now in a “very exciting” phase and would drill up to 12 more exploration wells before the end of the year.
