Tullow Oil PLC
24 January 2000
TULLOW OIL PLC
DRILLING PROGRAMME UPDATE
Bangladesh
Tullow Oil's Reju No 1 exploration well in Block 17 offshore
Bangladesh is in the process of being plugged and abandoned
at a depth of 4417m. The well encountered gas shows and
intersected in excess of 1100m of very good quality
sandstone reservoirs, however log analysis indicated the
sandstones have not been gas charged at this location.
No significant problems were encountered while drilling, and
the well was drilled within budget. This was the first well
drilled by Tullow in two very large blocks. Much valuable
technical information has been gained from the well, and
Tullow remains enthusiastic about the hydrocarbon potential
of the blocks.
The presence of thick good quality reservoirs and
significant gas shows confirm the viability of the
hydrocarbon system in the area of Block 17. Substantial
further work is now required to reappraise the numerous
additional leads and prospects on the block with a view to
deciding which will form part of the future drilling
programme.
Senegal
In Senegal, well Ecole No 1 reached the prognosed depth of
1555m on 12th January 2000. Due to encouraging gas shows
and subsequent evaluation of wireline logs, a 10.5m thick
zone has been selected for completion and testing. After
completion the rig will be moved to the next drilling
location.
Aidan Heavey, Chief Executive of Tullow, commented:
'Reju No 1 has provided us with excellent information and
assistance in defining our future exploration programme on
these blocks, while the completion of the well on time and
within budget gives Tullow confidence in the future development
of its operations in the region. We are much encouraged by
progress in Senegal.'
Enquiries to:
Tullow Oil Tel: 0171 976 2600
Aidan Heavey, Chief Executive
Graham Martin, Legal & Commercial Director
Millham Communications Tel: 0171 256 5756
Simon Rothschild/Judith Parry
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