RBC Research’s opinion on today’s Shimela-1 news

RBC Research’s opinion on today’s news International News – Headlines Tullow Oil (TLW.L) and Africa Oil (AOI.TO): Shimela-1 is dry Tullow and Africa Oil today announced that their Shimela-1 well, on the South Omo Block in Ethiopia, was unsuccessful. We included only pennies (TLW 1p, AOI C$0.03 per share) in our NAVs for the 36mmbbl prospect, […]
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Tullows operational update on Shimela and the Ethiopian basins

Well update – Ethiopia Tullow Oil plc (Tullow) announces that the Shimela-1 well encountered water bearing reservoirs. Shimela-1 in the South Omo Block, onshore Ethiopia, was drilled to test a prospect in a north-western sub-basin of the vast Chew Bahir basin. The frontier wildcat well encountered lacustrine and volcanic rocks including almost 100 metres of net […]
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