Tullow Oil PLC - Poised for a Takeover?

A recent update from Tullows partner in Bangladesh (TLW are partner with 30% equity):-

Bangladesh

Drilling of the Bangora-4 well commenced in early October 2006 and reached total depth of 4380m (3200m TVDss). The well is 7 km (4.35 mi) south of Bangora-3 and encountered 36 m of reservoir quality sand in the Upper-D interval and confirmed a gas-water contact (GWC) at 3058 m TVDss.

The Company's working interest Proved reserves at Bangora as at 31 March 2006 were 30.2 Bscf and current internal estimates including the drilling successes of Bangora-2, -3 and -4 boost the Company's working interest estimated proved recoverable gas volumes to 118 Bscf, an increase in proved reserves of 291%. The Company's working interest Proved plus Probable reserves at Bangora as at 31 March 2006 were 69.5 Bscf and current internal estimates including the drilling successes of Bangora-2, -3 and -4 boost the Company's working interest estimated proved plus probable recoverable gas volumes to 225.4 Bscf, an increase of 224 %. Commerciality was declared on December 3, 2006 and the Company is entitled to collect the receivable owed for natural gas delivered to date. Current production from Bangora is 60 MMSCFD (40 MMSCFD net to the Company).