PROVIDENCE Resources has said its Dragon gas discovery off the south-east coast could be three times bigger than initially thought.

Oil and gas exploration and production firm Tullow Oil has announced record results for the six months ended June 30, 2011.

Exploration group Tullow Oil today said total revenue for the first half of 2011 is expected to be a record $1.05bn (€725m), up from $486m (€335m) for the same period last year.

Exploration company Tullow today announced plans for a secondary listing of its shares on the Ghana Stock Exchange (GSE) and an offering of 4,000,000 Tullow shares in Ghana.

OIL production levels from Tullow Oil’s Ghana-based Jubilee Field — which started producing late last year — have increased to over 70,000 barrels of oil per day (bopd) and are on course to reach the forecast 120,000 bopd level by July.

Ghana is poised to begin pumping oil for the first time, kicking off a lucrative new industry expected to bring a billion US dollars annually to a part of the world where most people still get by on less than two dollars a day.

Tullow Oil in an interim management statement released today said it had made excellent operational progress in the second half of 2010 while financial performance is in line with expectations.

PRE-tax profits at Tullow Oil jumped by over 150%, on a year-on-year basis, to $131 million (€103.5m), in the first half of the year.

TULLOW OIL, the Irish-founded oil and gas exploration company, has kept up its steady stream of positive news ahead of its interim results next month, by announcing a further significant oil find in one of its African bases.

Exploration company Tullow Oil said today that its Mahogany-5 appraisal well has encountered oil southeast of the Jubilee Field, off the coast of Ghana.

Tullow Oil plc has announced that it has agreed a new deepwater exploration licence with Suriname's state oil company Staatsolie for an area off the coast of the South American country

TULLOW Oil has made a second potentially large-scale oil and gas discovery in Ghana, which could come close to rivalling its nearby Jubilee field, in terms of production levels.

SHARES in Tullow Oil – the second-highest valued Irish public company – hit a record high of £12.87 (€14.23) in early trading in London yesterday on the back of speculation that BP may lodge a bid for Kosmos Energy LLC’s stake in the Jubilee field in Ghana, which is operated by Tullow.

The ISEQ index of Irish shares was valued at 2,669.36 at 11.15am this morning, a rise of 33.14 points.

Oil explorer Tullow Oil said first-half revenues were expected to fall 23% to £290m (€335m) due to a drop in production and lower commodity prices.

Tullow Oil has today issued an upbeat operational update in respect of its activities in Uganda and Ghana.

Tullow Oil today announced its intention to raise capital by placing up to up to 66,938,141 new ordinary shares, representing up to approximately 9.1% of the company's existing issued ordinary share capital.

SHARES in Tullow Oil enjoyed another strong day’s trading yesterday — rising by more than 12%, or 89c, to €8.20 — on the back of latest estimates that the company’s Mahogany well off the coast of Ghana could have an oil capacity of up to 20% more than originally anticipated.

SHARES in exploration company Tullow fell 25 cents to €10.95 in afternoon trading Dublin yesterday after it despite issuing a strong trading statement on the outlook for the current year.

Tullow Oil has issued a trading statement for the first half of the financial year, revealing highlights including a number of positive updates.

Tullow Oil has reported a significant oil find in Ghana today.

The ISEQ-index of Irish shares was boosted by 124.09 points to 6279.68 this morning.

The independent oil and gas exploration and production group, Tullow Oil announced profit before tax £114.2m (€149m) for the year ended 2007, a decrease of 57% on 2006.

In a statement released this morning, Tullow Oil have reported mixed news from its operations in Africa.

A trading statement released today by Tullow Oil shows that production for last year, measured by barrels of oil equivalent per day (boepd), was up by 13% to 73,100.