Tullow falls to third annual loss on more exploration write-offs

By Karolin Schaps LONDON (Reuters) - Tullow Oil missed forecasts to fall to a third consecutive annual loss on Wednesday as it wrote off more of its Africa-focused exploration business, sending its shares lower. Tullow, whose founder and long-serving chief executive Aidan Heavey will hand over to Chief Operating Officer Paul McDade in April, was hit hard by the collapse in oil prices in 2014 just as it was investing heavily in its flagship TEN oil project off Ghana. It took gross exploration wri