Mahogany-2 appraisal well flo

RNS Number : 3325W

Tullow Oil PLC

10 June 2008

 

News release 

Mahogany-2 appraisal well flows at 5,200 bopd on test

10 June 2008 - Tullow Oil plc (Tullow) announces that the Mahogany-2 well, which is being drilled to appraise the Jubilee field offshore Ghana, flowed at a test rate of 5,200 barrels per day of 36-degree API gravity crude oil and approximately 5.3 million cubic feet per day of associated natural gas. 

The Mahogany-2 well, which lies in the West Cape Three Points licence, has been drilled to a total depth of 3,443 metres by the Songa Saturn drillship in water depths of 1,080 metres. A single zone covering an interval of 17 metres was tested through a 40/64-inch choke resulting in a flowing tubing head pressure of 1,540 pounds per square inch. This flow rate was however severely limited by the available test equipment and facilities. 

These favourable results confirm that the Turonian turbidite reservoirs of the Jubilee Field are highly productive and validates the geological and reservoir model. Oil samples will now be acquired to conduct comprehensive refinery assays before the well is suspended as a potential development well and the rig released.

Development planning for the Jubilee field is ongoing and Tullow has secured the Blackford Dolphin and the Eirik Raude deepwater rigs for an extended programme of appraisal, development and exploration drilling in both the West Cape Three Points and the Deepwater Tano licences. This programme is scheduled to commence later this year.

Commenting today, Aidan Heavey, Chief Executive of Tullow said: 

'These excellent well test results are in line with our expectations, confirming the high quality reservoir characteristics and supporting our view that the completed Jubilee production wells should be capable of flowing at rates in excess of 20,000 bopd. These results support the decision by the Jubilee partnership to progress with a fast track appraisal and development programme targeting first oil in 2010.'

For further information contact: 

Tullow Oil plc  ([phone]) Aidan Heavey Paul McDade

Citigate Dewe Rogerson  ([phone])  Kate Delahunty

Murray Consultants  ([phone])  Joe Murray

Notes to Editors

Notes

• Tullow is the Jubilee Field Unit Operator. Kosmos and Tullow are the WCTP & Deepwater Tano operators respectively. 

• GNPC has a carried interest.

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, Côte 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   

 

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