Tullow lost about 70 per cent of its value at the end of last year after it was forced to admit that previous discoveries off Guyana might not be viable Tullow oilTullow Oil shares tumbled this morning after the oil explorer revealed another disappointing drilling result off Guyana. The FTSE 250 group said that the Carapa exploration well off the South American country had encountered less oil than had been estimated before drilling began. The news sent shares down by as much as a fifth. Shares fell as low as 51.2p in early trading today before recovering some of the losses. By mid-morning they were trading…

Source: The Times January 02, 2020 12:00 UTC