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ISEQ and Company Update, 22-Jan-2010

Posted by Senan Coleman | 22 January 2010

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Market update

ISEQ Week Open: 3097.03, Week Close: 3036.94

Tullow Oil

• Announces that the Mahogany Deep-2 appraisal well offshore Ghana confirmed the down-dip extent of the main Jubilee reservoirs in the West Cape Three Points Block and intersected two new light oil accumulations. Good quality reservoirs were encountered in the Mahogany Deep section but were water bearing at this location.
• Source: http://www.tullowoil.com/tlw/media/news/2009/2009-12-23/
• Announces that the Tweneboa-2 exploratory appraisal well, being drilled some 6 km southeast of the Tweneboa-1 discovery, has intersected a significant combined hydrocarbon column. Results of drilling, wireline logs and samples of reservoir fluids establish that Tweneboa is a major oil and gas-condensate field.
• Source: http://www.tullowoil.com/tlw/media/news/2010/2010-01-21/
• Announces that its subsidiary, Tullow Uganda Limited, exercised its right of pre-emption in respect of the proposed sale by Heritage Oil & Gas Limited of its 50% interest in Blocks 1 and 3A in Uganda.
• Source: http://www.tullowoil.com/tlw/ir/newsevents/rns/rnsitem?id=1263798020nRSR6796Fa

DCC

• High court clears the then Chief Executive of DCC, Jim Flavin, of any wrongdoing in relation to the sale of Fyffes shares in February 2000.

Ryanair

• Ryanair, Dublin Airport’s largest airline, today (21 Jan) confirmed that it will further reduce its flights and traffic at Dublin Airport this summer by up to 20% as high and rising DAA airport charges and the Govt’s €10 tourist tax continue to devastate Irish traffic and tourism. These cuts come one week after BMI announced the closure of its Dublin base and cuts in its Dublin-Heathrow flights from 7 to 4 this summer.
• Source: http://www.ryanair.com/ie/news/ryanair-confirms-20-percent-cut-in-dublin-summer-2010-traffic

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