Tullow strikes oil off Norway

Suzie Neuwirth
TULLOW Oil, the fourth largest oil and gas explorer listed in London, yesterday cheered investors with a discovery off Norway.

Shares in the firm climbed over one per cent on news that the Hanssen well, in which it holds a 20 per cent stake, had encountered oil and gas. The discovery gave Tullow a boost after it announced on Wednesday that it had taken a $415m (£242m) exploration write-off due to disappointing results.