Speculation on wells sends Tullow shares higher

Tullow is the latest exploration stock to take a run upwards benefiting from speculation that it could get some oil wells in joint ventures with partners in a licensing round in Bangladesh.

Local sources were quoted this week as saying that consortia, in which Tullow is a member, could get two of the blocks. This was enough to send the shares on an upward run. The result of the round should be known later this month.