The headline says it all.
Tullow Oil has made another “significant” oil discovery in Ghana, in a block adjacent to one where it made a big discovery in June, supporting investor hopes that the country will become a major profit centre for the firm.
London-based Tullow said in a statement on Wednesday that the Hyedua-1 well discovered “a significant light oil accumulation”, in the Deepwater Tano block, which Tullow operates and in which it has a 50 percent stake. U.S.-based Anadarko Petroleum Corp and private-equity backed Kosmos Energy own 18 percent each.
Oil will be developed as soon as 2011. Read more
(via YG)