DAVY VIEW

The news that Tullow has secured a new CEO, Rahul Dhir, and re-established a normal leadership structure is positive for the group. Dhir also looks to have the right mix of African, new venture and business mix experience. Oil markets are clearly shredded at the moment; however, taking the view that this reflects the immediate oversupply/COVID-19 scenario, the news today should in time put Tullow back on a stronger footing.