Africa Oil Corp (AOIFF)

[korpin]

1519 GMT - Shares in Tullow Oil PLC ( TUWLF ) rise 3% to 157 pence after Total becomes a partner in a Kenyan oil project through its acquisition of Maersk Oil & Gas, or MOG. Total has agreed to acquire MOG for $4.95B, giving it a 25% stake in Kenya's South Lokichar basin alongside Tullow, which holds 50% of the venture, and Africa Oil ( AOIFF
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), which also has 25%. Barclays Capital says Total will bring a "new dynamic" to South Lokichar, though it says the project is unlikely to have been a significant reason for the oil major's decision to buy MOG. "At the very least, the risk of delays to the development schedule has increased in our view," Barclays says. ([e-mail])