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re: ml and tlw Tullow Oil "buy"

Wednesday, October 11, 2006 4:08:51 AM ET
Merrill Lynch

LONDON, October 11 (newratings.com) - Analyst Andrew Knott of Merrill Lynch maintains his "buy" rating on Tullow Oil (TLW.ISE). The price objective is set to 460p.

In a research note published yesterday, the analyst mentions that the company is preparing its Kingfisher exploration well in Block 3A Uganda for an early production test. While mobilizing the testing equipment could take about a month, the production test is likely to take another month, the analyst says. The company is unlikely to drill through the primary objective before mid-January, Merrill Lynch adds.

http://www.newratings.com/analyst_news/article_1387481.html

Whatever the ML plan, they seem to be on a winner with TLW and HDR.
Tullow at 460p is about A$11.40/TLW share which at .22289 TLW/HDR values HDR at $2.54