Hedge funds weigh in Tullow Oil shorts as shares slide further

Oil pipeline

Tullow Oil, the London-listed oil and gas explorer shorted by several major hedge funds, has seen a further slump in its share price this week.

Tullow shares dipped from 45.81pp on Friday to 43pp on Monday, following the announcement it is abandoning its Marina-1 drilling project in offshore Peru having failed to strike oil in the area.

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