U.K.-listed oil explorer Tullow Oil said it would take a $440M hit to its H1 earnings from asset...

|About: Tullow Oil Plc. (TUWLF)|By:, SA News Editor

U.K.-listed oil explorer Tullow Oil said it would take a $440M hit to its H1 earnings from asset write-downs, a reminder of just how hefty the cost of oil prospecting can be when the size of the find isn't as large as had been hoped. Shares are off 2.2% in London, despite a mostly optimistic trading update.