Tullow Oil PLC
12 May 2006
News release
Tullow Oil Plc - International Activity Update
12 May 2006 - Tullow Oil plc (Tullow) announces first gas from Bangora-1 in
Bangladesh, a key part of the Group's Bangora/Lalmai appraisal programme, and
provides an update on international exploration drilling activities.
A detailed update on Tullow's business will be provided in our Trading Statement
and Operational Update in early July. An update on our UK activities is also
planned for later in May.
FIRST GAS FROM BANGORA-1 (Tullow 30%)
Natural gas production from the Bangora-1 well in Block 9, Tullow's first
production in Bangladesh, commenced on 9 May 2006 and has reached a gross
stabilised flow rate of 50 mmscfd. This is a long-term production test and
forms part of an appraisal programme to test the size and connectivity of the
reservoir discovered by the Bangora and Lalmai wells in 2004. The gas is being
delivered into the Ashuganj-Bakhrabad pipeline and will supply much needed gas
into the local market.
Production data from the Bangora well will be combined with new 3D seismic data,
acquired in February this year, and the results from the appraisal wells. The
Bangora-2 appraisal well commenced drilling on 22 April and is expected to take
40 days to reach the reservoir target. One further appraisal well is planned
with two additional wells contingent on results.
In the event of positive results from this programme, Tullow plans to declare
commerciality and submit a full Field Development Plan to Petrobangla by the end
of the year.
INTERNATIONAL DRILLING UPDATE
Pakistan (Tullow 30%)
The Shahpur Chakar-1 exploration well, drilled on the Nawabshah Block in
Pakistan, has been plugged and abandoned. The well was spudded on 21 February
and reached a total depth of 3,385m. Although shows were encountered during
drilling, all viable reservoirs proved to be water wet.
Gabon (Tullow 15%)
The Gryphon Marine 1 (GRPM-1) exploration well, targeting the Gamba sandstone in
the Dogbolter prospect spudded on 21 March and reached a total depth of 2062m.
The well yielded negative results and has been plugged and abandoned.
Uganda (Tullow 50%)
The M'puta-2 appraisal well in Block 2, to test the extent of the oil-bearing
reservoirs discovered in M'puta-1, commenced drilling on 7 May. The well was
spudded three kilometres northwest of the discovery well and the planned total
depth is 1,500m. Preparations are also under way to flow test the Waraga-1
discovery at the beginning of June.
Equatorial Guinea (Tullow 10%)
The exploration well targeting the significant deep water Banyan prospect in
Block L commenced drilling on 5 May 2005. The well, in a water depth of 1980m,
will be drilled to a total depth of 4000m.
For further information contact:
Tullow Oil plc Citigate Dewe Rogerson Murray Consultants
(+44 20 8996 1000) (+44 20 7638 9571) (+353 1 498 0300)
Martin Jackson Joe Murray
Tom Hickey
Chris Perry
Notes to Editors
Tullow is a leading independent oil & gas, exploration and production group,
quoted on the London and Irish Stock Exchanges (symbol: TLW) and is a
constituent of the FTSE 250 Index. The Group has interests in approximately 90
exploration and production licences in 15 countries and focuses on three core
areas: NW Europe, Africa and South Asia.
Tullow's NW Europe interests are primarily focused on gas in the UK Southern
North Sea where it has significant interests in the Caister-Murdoch System and
the Thames/Hewett areas and operates over 60% of its production.
In Africa, Tullow has production and exploration in Gabon, Cote d'Ivoire, Congo
(Brazzaville) and Equatorial Guinea and a large gas field development and
appraisal programme in Namibia. Tullow also has exploration programmes in
Mauritania, Senegal, Cameroon, Uganda, Madagascar and Angola.
In South Asia, Tullow has production and exploration interests in Pakistan and
Bangladesh and high impact exploration activities in India.
In addition to onshore Block 9, Tullow also operates Blocks 17/18 offshore
Bangladesh where a 2D seismic survey recently completed. Tullow has applied for
an extension to this licence, to permit a sizable work programme to be carried
out, and has requested that part of Tullow's interest is assigned to Total.
Both are currently awaiting Government approval.
For further information please refer to our website at www.tullowoil.com
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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