BUZZ-Kosmos Energy gains after walking away from Tullow acquisition

Reuters12-17 19:04

** Shares of oil and gas producer Kosmos Energy rise ~10% to $3.00 premarket

** Company walks away from its plan to buy West Africa-focused Tullow Oil

** Kosmos does not intend to make a firm offer for Tullow at this time, it says without specifying any reason

** The announcement comes less than a week after KOS revealed it was in early talks for an all-share acquisition of Tullow

** Shares in London-listed Tullow dropped as much as 7.7% to 21.5p as of 1000 GMT, when the announcement was made

** TLW down ~42% so far this year

** As of last close, KOS stock down ~60% YTD

(Reporting by Vallari Srivastava and Prerna Bedi in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com))

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