Drilling Update

RNS Number : 5070L

Tullow Oil PLC

13 January 2009

 



News Release 

Major discovery in the Giraffe-1 exploration well in Uganda

13 January 2009 - Tullow Oil plc (Tullow) announces that the Giraffe-1 exploration well, which is located in the Butiaba region of Uganda Block 1, has encountered over 38 metres of net oil pay within an 89 metre gross oil bearing interval. These results demonstrate Giraffe to be a down-dip extension of the Buffalo discovery, making this the largest discovery in the Lake Albert Rift Basin to date.

The well was drilled 5 km from Buffalo-1 to a total depth of 705 metres and has been successfully logged and sampled. These data indicate a net reservoir thickness of 38 metres, the largest encountered in the area to date, and excellent reservoir quality in all pay zones with moveable oil being recovered to surface. 

Interpretation of the well and seismic data indicates that the reservoir sands intersected in the Giraffe-1 well are in communication with those in the Buffalo discovery. An oil-water contact was penetrated and is interpreted as being common to the entire Buffalo-Giraffe structure with the potential for a single continuous oil column of some 140 metres. 

Giraffe-1 is the sixth successful test of the Victoria Nile delta play fairway within the Lake Albert Rift Basin and was drilled some 6.5 km south of the crest of the Buffalo-Giraffe structure. This latest result further extends the play fairway and de-risks several adjacent prospects, located in Blocks 1 and 2, which are scheduled for drilling in 2009.

The well will now be suspended as a future producer and on completion of operations the light land rig will move to the Tullow Operated Block 2. Drilling operations will recommence in early February with the drilling of the Mputa-5 appraisal well to calibrate recently enhanced seismic data. Thereafter the rig will return to the Block 2 Butiaba campaign.

Tullow has interests in three licences in the Lake Albert Rift Basin in Uganda. Tullow operates Block 2 with a 100% interest and has a 50% interest in Blocks 1 and 3A which are operated by Heritage Oil (50%).

Commenting today, Aidan Heavey, Chief Executive, said:

 'Buffalo-Giraffe is one of the largest recent onshore oil discoveries in Africa. Combined with our other finds in the region, we have now clearly exceeded the thresholds for basin development. Options for commercialisation and first oil production are currently being fast-tracked.'

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc  ([phone]) Aidan Heavey Angus McCoss Chris Perry

Citigate Dewe Rogerson  ([phone]) Martin Jackson George Cazenove

Murray Consultants  ([phone])  Joe Murray  Ed Micheau

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 90 exploration and production licences across 23 countries and focuses on four core areas: Africa, Europe, 

South Asia and South America.

In Africa, Tullow has production in Gabon, Côte d'Ivoire, Mauritania, Congo (Brazzaville) and Equatorial Guinea and two large appraisal and development programmes in Ghana and Uganda. Tullow also has exploration interests in Gabon, Côte d'Ivoire, Mauritania, Senegal, Congo (DRC), Tanzania, Madagascar, Namibia and Angola.

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 area and operates over 70% of its production. The company also has interests offshore the Netherlands and Portugal.

In South Asia, Tullow has exploration and production in Pakistan and Bangladesh and exploration activities in India.

In South America, Tullow has exploration interests in Trinidad and Tobago, Guyana, French Guiana and 

Suriname. 

For further information please refer to our website at www.tullowoil.com.

 

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