Tullow Oil shares little changed as ‘exciting’ Kenyan discovery unveiled

Shares in Tullow Oil remained largely unchanged yesterday as the company announced what it described as an “exciting discovery” in Kenya.

The oil company said testing at the Erut-1 well at the northern limit of the South Lokichar basin in northern Kenya had shown recoverable oil.

However, shares in London failed to respond to the announcement, hovering around the £3.15 level for most of the day, barely changed from the previous session.