NEW YORK, Oct 18 (Reuters) - Shares of Anadarko Petroleum Corp and Tullow Oil may be poised to rise, following significant oil discoveries in Africa, according to a report in business weekly Barron's.
The possibility that a billion barrels of oil could exist in West Africa makes Tullow and Anadarko undervalued, even after both stock have marked sharp gains in recent months, the newspaper said in its October 19 edition.
Anadarko and Tullow's analysis says the Jubilee field off the coast of Ghana, in which they own 24 percent and 35 percent stakes, respectively, holds anywhere from 600 million to 1.8 billion barrels, the paper said.
(Reporting by Franklin Paul; editing by Gunna Dickson) Keywords: ANADARKO/SHARES (Email: Franklin.Paul@thomsonreuters.com; +1 646 223 6195; Reuters Messaging: Franklin.Paul.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The possibility that a billion barrels of oil could exist in West Africa makes Tullow and Anadarko undervalued, even after both stock have marked sharp gains in recent months, the newspaper said in its October 19 edition.
Anadarko and Tullow's analysis says the Jubilee field off the coast of Ghana, in which they own 24 percent and 35 percent stakes, respectively, holds anywhere from 600 million to 1.8 billion barrels, the paper said.
(Reporting by Franklin Paul; editing by Gunna Dickson) Keywords: ANADARKO/SHARES (Email: Franklin.Paul@thomsonreuters.com; +1 646 223 6195; Reuters Messaging: Franklin.Paul.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
