why tullow up last night, page-4

http://www.staatsolie.com/company.html

In 2000, the United States Geological Survey (USGS) concluded that the Suriname part of the Guyana sedimentary basin could contain about 15 billion barrels of undiscovered oil. This information attracted several oil companies to Suriname and resulted into offshore production-sharing contracts with Repsol YPF, Noble Energy, Maersk Oil, Teikoku, and Murphy Oil.
The increased exploration activities onshore as well as offshore revealed new play concepts and prospects. In 2008, after more than 20 years, an exploration well was drilled again offshore Suriname. Although no commercial hydrocarbons were discovered, all information of the well is of great value.

With the increased exploration activities and better understanding of the Guyana Basin, Suriname could be on the eve of becoming an interesting oil province. Onshore, Staatsolie signed production-sharing contracts for the Coronie Block and the Uitkijk Block with Paradise Oil Company N.V. and its Irish/British joint venture partner Tullow Oil. Paradise Oil is a 100% subsidiary of Staatsolie.