Tullow Slumps After Guyana Oil Find Is Smaller Than Expected
- Net pay of Carapa-1 well is lower than the pre-drill forecast
- Preliminary interpretation of results shows light oil in field
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Tullow Oil Plc discovered light oil at its Carapa-1 well in Guyana, but the reservoir was smaller than the troubled company had expected prior to drilling. Shares fell as much as 20%.