BUZZ-Tullow Oil: writes down assets as oil slide bites

** Tullow Oil (LSE: TLW.L - news) writes off $2.3 bln in relation to exploration work & some of its assets in 2014 as crude's brutal sell-off takes its toll

** But co's trading update seen by traders as broadly in line, & stock bounces along with sector peers after Brent staged its biggest pct gain since June 2012 on Weds

** Tullow, up 3.3 pct, top FTSE 100 riser, followed by BG, 3.2 pct higher, with BP up 2.4 pct

** Tullow, however, still down at levels last seen in 2007, having seen its stock market value plummet this yr

Chart: http://link.reuters.com/quz73w

** Oil cos under pressure to find cost savings

** Tullow reduces its 2015 investment programme for 2nd time

** Co also says it is continuing to review its core business - days after a source told Reuters firm was expecting cut jobs

** This wk Premier Oil (LSE: PMO.L - news) & Royal Dutch Shell announced moves to rein in costs (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)