Tullow Oil has increased its profit before tax from £1,201,280 to £1,487,536 in the six months ended June 30th 1997. The growth arose from a substantial rise in investment income which jumped from £7,220 to £478,018. This reflected the strong cash position, amounting to £18.6 million. Excluding this income, the operating profit fell from £1,224,807 to £1,053,858.

The results are "in line" with the group's expectations, according to chairman, Mr Tom Toner "and excellent progress was made during the period in extending the company's international asset base".