why tullow up last night, page-8

I've just been having a bit of a look and noticed that the oil refinery capacity is planned for doubling in size, is this an indication that Tullow's past and present drilling is highly prospective?


I got my answer to this with some late night reading.

Staatsolie, the state oil company of Suriname, is currently producing just over 16k bopd from their own Calcutta and Tambaredjo fields. The increase to 15k bopd oil refinery capacity is in keeping with their forward plans. Part of which includes the aim to maintain production of at least 16k bopd from their reserves.

From the reading I did last night it sounds like Staatsolie may not have any plans to bring any new fields into production any time soon as currently their desired outcomes are being achieved by their existing Calcutta and Tambaredjo fields.