Tullow Oil PLC
07 May 2008
News release
Drilling Update: Banda NW ST-1, Offshore Mauritania
7 May 2008 - ROC Oil, a participant in the Banda NW exploration well, in which
Tullow Oil plc (Tullow) is also a partner, today issued the following press
release:
'Roc Oil (Mauritania) Company, a wholly owned subsidiary of ROC, advises that as
at midnight (local time) on 3 May 2008, the Banda NW ST-1 sidetrack well had
been suspended.
The results of the wireline logging, Modular Dynamic Tester (MDT) pressure
testing and sampling indicate that Banda NW ST-1 intersected an 85 metre gross
gas column, with 15 metres (18%) net gas pay and a 15 metre gross oil column,
with 10 metres net oil pay (67%). The fluid contacts were as expected and the
well is interpreted to be in communication with the original Banda-1 discovery
well drilled in 2002, approximately 2 kilometres to the east. The Banda Field
is in approximately 300 metres of water and spans PSC Area A and PSC Area B.
The Atwood 'Hunter' will commence with the planned well intervention work on the
Chinguetti Field, once it has completed the move from Banda NW ST-1.'
Participating Interests in the PSC Area A Joint Venture are:
ROC Group Companies.......................................... 4.155%
PC Mauritania I Pty Ltd (Operator).......................... 53.846%
Tullow Oil plc.............................................. 24.300%
Mauritania Holdings B.V..................................... 13.084%
Fusion Mauritania A B.V...................................... 3.000%
FP Mauritania A B.V.......................................... 1.615%
Participating Interests in the PSC Area B Joint Venture are:
ROC Group Companies.......................................... 3.693%
PC Mauritania I Pty Ltd (Operator).......................... 53.846%
Tullow Oil plc.............................................. 21.600%
Mauritania Holdings B.V..................................... 11.630%
Premier Oil Mauritania B Limited............................. 9.231%
Commenting today, Aidan Heavey, Chief Executive of Tullow said:
'The success of Banda NW and its sidetrack has presented a clear opportunity to
drill an appraisal well in the east of the field to assess the size of this
exciting oil and gas discovery. Additionally, data from these wells will prove
invaluable in our evaluation of the remaining exploration potential of the
offshore Mauritanian acreage'.
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 George Cazenove Ed Micheau
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 100 Index. The Group has interests in over 100
exploration and production licences across 23 countries and focuses on four core
areas: Europe, Africa, South Asia and South America.
Tullow's European 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 70% of its production. The company
also has interests offshore the Netherlands and Portugal.
In Africa, Tullow has exploration and production in Gabon, Cote d'Ivoire,
Mauritania and Equatorial Guinea and two large appraisal and development
programmes in Ghana and Uganda. Tullow also has exploration interests in
Mauritania, Senegal, Congo (DRC), Tanzania, Madagascar, Namibia and Angola.
In South Asia, Tullow has exploration and production in Pakistan and Bangladesh
and high impact exploration activities in India.
In South America Tullow has high impact exploration interests in Trinidad and
Tobago, French Guiana and Suriname.
For further information please refer to our website at www.tullowoil.com
This information is provided by RNS
The company news service from the London Stock Exchange
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