Tullow falls on Kenya well update

Tullow Oil, the FTSE 100-quoted energy explorer, yesterday remained upbeat after giving a mixed update on its operations in Kenya. The firm’s share price fell over two per cent, after it said one well had encountered oil with “limited reservoir quality” and another had encountered 150 metres of quality reservoir but just five metres of net oil pay – the part of the rock that can deliver oil to the well at a profitable rate.