LONDON, Jan 15 (Reuters) - Tullow Oil expects to
report a $1.5 billion writedown after lowering its long-term oil
price assumptions by $10 to $65 a barrel, an announced reduction
in reserves in Ghana and disappointing exploration wells, it
said on Wednesday.
"Tullow expects to report pretax impairments and exploration
writeoffs of c.$1.5 billion (c.$1.3 billion post tax)," it said.
"Writeoffs include Jethro, Joe and Carapa well costs in
Guyana as a result of drilling results and Kenya Block 12A,
Mauritania C3, PEL37 Namibia and Jamaica licence costs due to
the levels of planned future activity or licence exits."
(Reporting by Shadia Nasralla, editing by Louise Heavens)
Tullow Oil (TLW)
