#Oil - Tullow Oil's shares dropped more than 6% in London trading early last week with the news that its prospect in the Atlantic off French Guiana is dry, according to The Irish Times.

The Irish-founded oil exploration firm says it encountered a number of oil shows in reservoir quality sands at its Zaedyus-2 well in the waters north of Brazil, but it "did not encounter commercial hydrocarbons".

The result was described as "very disappointing" by Investec Securities analyst Stuart Joyner - though better signs have been seen at the nearby Zaedyus-1 well, drilled by Tullow with partners Royal Dutch Shell and Total at a cost of $250 million.

And as previously reported on Afloat.ie, the UK-based company's prospects off the Ivory Coast and Ghana have proven encouraging for future exploration.

Ships off Ireland's south and west coasts have been asked by the French coastguard to keep a lookout for a yachtsman who has gone missing on a transatlantic voyage.

In a report that has echoes of missing yacht The Golden Eagle - which sailed into Kerry after an Atlantic crossing from Bermuda many days after schedule - RTÉ News says that the 12-metre yacht La Galatee left French Guiana on 5 August sailing for St Malo in France, but the French coastguard has lost contact with the vessel.

No air and sea searches are being considered at this time, but Irish Coast Guard stations are broadcasting alerts and requests for sightings of the yacht.