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Kenya approves oil production plan; Tullow readies full exploration

Aug. 12, 2016 11:19 AM ETTullow Oil plc (TUWLF) StockTUWOY, TUWLFBy: Carl Surran, SA News Editor
  • Kenya is set to join the ranks of oil producing countries after its government approved plans to eventually extract as many as 4K bbl/day from newly discovered reserves.
  • The plan has the potential to deliver as much as 2K bbl/day by H2 2017, according to Tullow Oil (OTCPK:TUWLF, OTCPK:TUWOY), which is undertaking the exploration.
  • Tullow discovered oil in Kenya in 2012 and estimates the country contains 750M barrels of recoverable resources.

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