Gabon well update

RNS Number : 7809H

Tullow Oil PLC

01 March 2010

 



News Release

 

 

Successful OMOC-N-1 exploration well in the Onal production license in Gabon

1 March 2010 - Maurel & Prom (85% operator) today issued the following press release relating to drilling on the Onal licence in which Tullow Oil plc has a 7.5% interest:

The exploration well OMOC-N-1, drilled in the Onal AEE, has identified a 111-metre column of oil in the Grès du Kissenda. Pump tests have established a flow of 1,700 bpd of oil (flow limited by the pump's maximum capacity) with an API of 33.4.

The characteristics of this oil are similar to Onal's so it can be processed and evacuated using existing facilities.

The discovery of this oil accumulation confirms the extension of the Grès du Kissenda in the Onal AEE and the importance of this new exploration theme for the entire eastern edge of the Gabon coastal basin where the Group has significant exploration acreage.

The development expenditure for this discovery will be limited to the amount of the drilling wells and of the laying of collection pipes linking them to the Onal field facilities.

The Kissenda play has been encountered several times on the Omoueyi permit (M&P operator, 100%) with the OMKO, OMOE, OMAL and OMOC discoveries. This new play will supplement the Group's traditional research subjects, hitherto concentrated on Grès de base, which have been the springboard for the Group's major successes.

This new success is a major step for the knowledge and the development of the Omoueyi permit. It reinforces Maurel & Prom's decision to prioritise two major development areas: Gabon and Nigeria. Other projects may either contribute to Maurel & Prom's growth depending on future results or be the subject of joint ventures with third parties.

Maurel & Prom (85%) operates the Onal production licence and is partnered by Tullow (7.5%) and AIC-Petrofi (7.5%).

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc ([phone]) Angus McCoss Chris Perry James Arnold

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 85 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, Liberia, Sierra Leone, 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. The company also has interests offshore the Netherlands and Portugal.

In South Asia, Tullow has exploration and production in Pakistan and Bangladesh. In South America, Tullow has exploration interests in Guyana, French Guiana and Suriname.

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

 

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