Tag Archives: Guyana: Tullow strikes oil in Orinduik Block -Anticipates over 100 million barrels

Guyana: Tullow strikes oil in Orinduik Block -Anticipates over 100 million barrels

– Discovery increases share price by 20%

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One of the United Kingdom’s leading exploration and production companies, Tullow Oil, has finally struck black gold in the Orinduik Block. In fact, Tullow’s Chief Executive, Paul McDade noted the discovery was made at the Jethro-1 well which could hold more than 100 million barrels of recoverable oil.

According to a Reuters news article, Tullow is also smiling from ear to ear as its share price jumped by 20 percent yesterday following the discovery.            Continue reading

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