Ghana and Uganda Update

RNS Number : 8863H

Tullow Oil PLC

06 June 2011

 



News Release

 

 

Ghana and Uganda well update: Banda-1, Jobi-East-1 and Mpyo-3

6 June 2011 - Tullow Oil plc (Tullow) announces that the Banda-1 exploration well in the West Cape Three Points licence offshore Ghana has discovered oil in Cenomanian-aged reservoirs and that the Jobi-East-1 and Mpyo-3 wells, in Exploration Area 1 (EA1) onshore Uganda, have both successfully encountered oil in line with pre-drill expectations.

Ghana: Banda-1 exploration well result

The Banda-1 well, located 9.6 kilometres southeast of the Odum discovery in the eastern part of the West Cape Three Points licence, has encountered Cenomanian turbidites over a gross vertical interval of 300 metres. This interval contains over 100 metres of low porosity sandstone and 3 metres of approximately 40 degree API oil pay.

The Atwood Hunter rig drilled Banda-1 to a total depth of 4,580 metres in water depths of 921 metres. On completion of operations, the well will be suspended for potential future use and the rig will move to complete the drilling of the Makore-1 well which is targeting Turonian age reservoirs in the south of the West Cape Three Points licence. The upper section of this well was drilled by the Eirik Raude rig during April.

Tullow has a 22.896% interest in the West Cape Three Points licence and its partners are Kosmos Energy (Operator) and Anadarko Petroleum Corporation (30.875% each), the E.O.Group (3.5%), Sabre Oil & Gas Holdings Ltd (1.854%) and the Ghana National Petroleum Corporation (GNPC) (10% carried interest).

Commenting on Banda-1, Angus McCoss, Exploration Director, said:

"Banda-1 was our first wildcat designed specifically to investigate the potential of Cenomanian age reservoirs in West Cape Three Points. Finding some light oil in such a thick sandstone package is an encouraging first step, however the reservoir is poor quality at this location. The well results will now be integrated into the regional geologic model to re-evaluate the remaining potential in other prospects at this stratigraphic level within our acreage."

Uganda: Jobi-East-1 and Mpyo-3 well results

The Jobi-East-1 and Mpyo-3 wells, in Exploration Area 1 (EA1) onshore Uganda, have both successfully encountered oil in line with pre-drill expectations. These wells have successfully calibrated large seismic and gravity data anomalies, which have now been proven as oil accumulations.

Jobi-East-1 has discovered 20 metres of net hydrocarbon bearing reservoir in a fault block adjacent to the giant Jobi-Rii oil field. The well was drilled 4.4 kilometres east of the Jobi-1 discovery well in a down-dip location. Successful logging and sampling operations have confirmed the presence of oil in two zones of high quality reservoir totalling 15 metres of net pay. In addition, gas has also been logged and sampled within sands totalling 5 metres of net pay.

The well was drilled by the OGEC RR600 and reached a total depth of 563 metres. It has been suspended allowing for future re-entry to conduct production testing operations. An accelerated drilling campaign comprising up to four Jobi-East appraisal wells is planned for the second half of 2011 to assess the full extent of this important new oil accumulation.

The Mpyo-3 well has intersected 21 metres of oil bearing reservoir sands at a depth of 340 metres. The well was drilled 1.6 kilometres southeast of Mpyo-1 in a down-dip location within a fault block adjacent to the Mpyo-1 discovery. Successful logging operations confirmed the sands to be of good quality and that they contain highly viscous oil similar to that encountered in Mpyo-1.

The well was drilled by the OGEC IRI-750 to a total depth of 513 metres and was suspended allowing for future re-entry to conduct production testing operations.

Subject to completion of the farm-down, Tullow will have a 33.33% interest in the EA1 licence and its partners will be Total 33.33% and CNOOC 33.33%. Tullow is currently acting as interim operator for the licence until Sept 2011.

Commenting on Jobi-East-1 and Mpyo-3, Angus McCoss, Exploration Director, said:

"The Jobi-East-1 and Mpyo-3 well results mark an excellent start to this next phase of our exploration and appraisal campaign in the Lake Albert Rift Basin. We look forward to many more exciting wells as we endeavour to determine the total oil resource base which will underpin the basin-wide development preparations currently in progress."

FOR FURTHER INFORMATION CONTACT:

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

Citigate Dewe Rogerson ([phone]) Martin Jackson Kate Lehane

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 22 countries and focuses on four core areas: Africa, Europe, South Asia and South America.

In Africa, Tullow has production in Ghana, Gabon, Côte d'Ivoire, Mauritania, Congo (Brazzaville) and Equatorial Guinea with 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, Tanzania, Madagascar, Namibia, Kenya and Ethiopia.

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.

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

You can now follow Tullow on:

Twitter: www.twitter.com/TullowOilplc

You Tube: www.youtube.com/TullowOilplc 

Facebook: www.facebook.com/TullowOilplc 

LinkedIn: www.linkedin.com/company/Tullow-Oil 

ENDS

 

END

 

 

MSCFMGGVGKVGMZZ