Rochester, NY 7/29/2009 2:05:11 AM
Tullow Oil PLC ADR - TUWLY, Tullow secures deals to develop fields
Tullow Oil, PLC
Tullow Oil, which is Europe's largest independent oil explorer will begin the development of oil fields in Ghana.
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Tullow stated all seems on track to begin producing from its Jubilee One license area in the second half of 2010.
According to CEO Aidan Heavey the company will likely begin production in the fourth quarter of 2010.
Jubilee is primarily an oil well, with good possibilities to also produce natural gas. The natural gas will be sold to the Ghanaian government, with the initial 200 billion cubic feet (bcf) free.
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