Tullow Oil PLC
23 May 2006
News release
Tullow Oil Plc - Mputa-2 Drilling Update
23 May 2006 - Hardman Resources, the operator of the Mputa-2 exploration well in
Uganda, in which Tullow Oil Plc (Tullow) is a 50% partner, today issued the
following press release.
Uganda: Block 2 - Mputa-2 Appraisal Well
Mputa-2 reached a total depth of 1,344 metres at 9:30am, Saturday 20 May,
shallower than the planned depth for the well of 1,500 metres, as all horizons
were intersected high to prognosis.
At midnight on Monday 22 May wireline logs were being run for evaluation
purposes.
Mputa-2 is a step-out appraisal well 3 kilometres from the Mputa-1 discovery,
with two principal objectives; the first to determine the lateral extent and
potential of the upper oil bearing reservoir in Mputa-1 and the second to target
the potential for extensive stratigraphic trapping of the thicker lower zone
intersected in Mputa-1.
The well confirmed the lateral extent of the upper reservoir sands although this
interval appears to be water wet in Mputa-2. A core was taken which will
determine reservoir parameters useful for assessing production potential at
Mputa-1. The widespread lateral extent of this reservoir unit is encouraging
for the potential of the Mputa-1 discovery.
Hydrocarbon shows were encountered in sands in the lower target zone of Mputa-2
and oil samples have been recovered. While this sequence appears to have a
reduced nett:gross and thus thinner potential reservoir units compared with the
equivalent sands encountered at the
Mputa-1 location, the presence of both reservoir and oil at such a step-out is
highly encouraging for the exploration of the extensive basin. A decision on
whether to case the hole for future testing or completion will be made shortly.
Results from Mputa-2 will be integrated with the results from Mputa-1 and
Waraga-1 to determine the reserve potential, commerciality and potential
development plans for the fault block which contains the Mputa-1 and Waraga-1
oil discoveries. Planning for the drilling of additional exploration/appraisal
wells and the acquisition of further seismic is in progress.
Equipment mobilisation is currently underway to flow test the Waraga-1 oil
discovery utilising the Eagle Drill Rig. Testing operations are expected to
commence mid June.
Commenting today, Aidan Heavey, Chief Executive of Tullow said:
'The Mputa-2 appraisal well was designed to enhance our understanding of the
extent of reservoirs encountered by the Mputa-1 discovery and to target an
additional stratigraphic play. With the lateral extent of the reservoir
confirmed and live oil recovered, we are greatly encouraged by the results from
this well which now need to be fully evaluated and integrated with the results
from the Mputa-1 and Waraga-1 discoveries to help determine ultimate reserve
potential, commerciality and further exploration potential. We are however in
the early stages of exploring this new basin and while the results to date are
very positive, further work programmes are required to determine the full
potential of the basin. These programmes include the testing of the Waraga
discovery well in June and the drilling of the Kingfisher prospect in Block 3A
in July.'
For further information contact:
Tullow Oil plc Citigate Dewe Rogerson Murray Consultants
(+44 20 8996 1000) (+44 20 7638 9571) (+353 1 498 0300)
Aidan Heavey 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.
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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