Market may lose patience with Tullow

KENYA'S Kerio Basin should not be written off yet, despite investors starting to lose patience with Tullow Oil and Africa Oil over their Epir-1 exploration well's failure to find a commercial oil field, RFC Ambrian says.

In results announced yesterday, Tullow said Epir-1 in block 10BB in the North Kerio Basin was not a discovery but did encounter oil and wet gas shows over a 100m interval of non-reservoir quality