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Tullow Oil: shares fall on disappointing exploration outcome

( - The Tullow Oil share lost 6.
2% in trading in London after disappointing results from the Carapa-1 field of the Kanuku block off the coast of Guyana, a block in which it has a 37.5% stake.

"The share had held up well before the announcement as the delayed announcement fueled speculation of discoveries, but we believe that the result probably does not have any commercial value," said Berenberg.

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