Not sure what happened but here is the rest of it.In a separate...

Not sure what happened but here is the rest of it.

In a separate report into the group Investec said the key wells the group is targeting could result in a combined oil discovery involving 1.5 billion oil barrels. Investec also has a buy rating on Tullow.

Tullow, which transferred its head office to London some years ago, denied market speculation it had made a discovery on the Kenyan side of the Ugandan border.

It has found oil and gas in seven of 12 wells it drilled last year, including the first oil discovery in Uganda. It also plans to continue exploring in the Congo to prove a reserve big enough to support the development of an oil field and a pipeline to Kenya’s coast.

In January, Citigroup said the link between the group’s share price and the sharp rise in oil and gas could be damaged by any further softening in those prices which might prevent the stock reaching its 440p target.

However oil prices have been firm in recent weeks which is probably adding to the attractiveness of Tullow.

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