DAVY VIEW

The second discovery offshore Guyana confirms the prospectivity of the Orinduik licence, which is held by Tullow (60% share). Oil is now confirmed in both the Lower and Upper Tertiary and the un-risked volume potential of the region has increased. The third well in this year’s drilling programme will target the deeper Cretaceous section. So far, the news supports an upbeat assessment of its exploration package held in the Guyana area and bodes well for the appraisal programmes expected to follow on and the value contribution of the licence.