Tullow Oil profits jump 51%

Operating profit at Tullow Oil jumped by 51% to £26.5m (€38.8m) in the six months to June 30, up from £17.6m (€25.8m) in the first half of 2003, the company said today.

Tullow Oil is an independent oil company with interests in the UK, Africa and South Asia. During the period, Tullow completed the acquisition of Energy Africa Limited and 50% of Energy Africa Gabon for a total headline consideration of $570m (€465m).