BN 11/12 07:09 *TULLOW MAY NEED SUBSTANTIAL NON-CASH EXPLORATION WRITEDOWNS
BN 11/12 07:07 *TULLOW SAYS TO CUT EXPLORATION SPEND SIGNIFICANTLY
BN 11/12 07:04 *TULLOW TO CUT EXPLORATION, APPRAISAL CAPEX TO $300M IN '15
BN 11/12 07:02 *TULLOW SAYS FINANCIAL PERFORMANCE YTD IN LINE WITH EXPECTATIONS
BN 11/12 07:01 *TULLOW SAYS REVIEWING CAPITAL EXPENDITURE
BN 11/12 07:07 *TULLOW SAYS TO CUT EXPLORATION SPEND SIGNIFICANTLY
BN 11/12 07:04 *TULLOW TO CUT EXPLORATION, APPRAISAL CAPEX TO $300M IN '15
BN 11/12 07:02 *TULLOW SAYS FINANCIAL PERFORMANCE YTD IN LINE WITH EXPECTATIONS
BN 11/12 07:01 *TULLOW SAYS REVIEWING CAPITAL EXPENDITURE
Tullow Sees Possibility for Substantial Writedown
2014-11-12 07:14:56.238 GMT
By James Ludden
Nov. 12 (Bloomberg) -- To cut exploration spend
significantly.
* Board to review 3-yr investment plan, main focus on French
Guiana, Mauritania.
* Sees possibility for “substantial non-cash exploration
writedowns”
* Impairment charge to relate to Uganda, all PP&E assets,
Spring Energy in Norway
* European output affected by underperformance
* Sees yr pretax op cash flow before working capital $1.7b
* Sees yr capex in-line w/ current guidance of $2.1b
* Sees 2015 capex ~$2b
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To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2014-11-12 07:14:56.238 GMT
By James Ludden
Nov. 12 (Bloomberg) -- To cut exploration spend
significantly.
* Board to review 3-yr investment plan, main focus on French
Guiana, Mauritania.
* Sees possibility for “substantial non-cash exploration
writedowns”
* Impairment charge to relate to Uganda, all PP&E assets,
Spring Energy in Norway
* European output affected by underperformance
* Sees yr pretax op cash flow before working capital $1.7b
* Sees yr capex in-line w/ current guidance of $2.1b
* Sees 2015 capex ~$2b
Link to Company News:{TLW LN <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net