Successful Ebony

RNS Number : 5542I

Tullow Oil PLC

20 November 2008

 



News Release 

Successful Ebony-1 exploration well offshore Ghana 

20 November 2008 - Tullow Oil plc ('Tullow') announces that the Ebony-1 exploration well, located in the Shallow Water Tano licence offshore Ghana, has intersected two hydrocarbon bearing intervals in Late Cretaceous turbidite sands. 

Ebony-1 spudded on 22 October and reached a total depth of 2,640 metres. The well lies in the south-west part of the Shallow Water Tano block in 86 metres of water and is the second commitment well in this licence.

Successful logging and sampling operations have confirmed a four metre oil bearing interval at 2,053 metres and a two metre high-pressure gas-condensate interval at 2,570 metres.

Log and sample data from the high-pressure gas-condensate sands and a regional seismic interpretation, indicate there may be a connection between these pinched-out sands and the material down-dip Tweneboa oil prospect which lies mainly in the Deepwater Tano licence. Other possible interpretations for the high-pressure cannot however be excluded at this stage, and this is subject to ongoing evaluation. 

Tullow (31.5%) operates the Shallow Water Tano licence on behalf of partners Interoil (31.5%), Al Thani (22.5%), Sabre Oil and Gas (4.5% carried) and GNPC (10% carried). 

Commenting today, Aidan Heavey, Chief Executive, said:

'The current interpretation of the Ebony-1 result is extremely encouraging as it further de-risks the regional prospectivity and improves our overall understanding of the hydrocarbon distribution in the basin. This has potentially positive implications for the Tweneboa stratigraphic trap prospect, which is scheduled for drilling in the first quarter of 2009.'

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 approximately 100 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 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-Hewett areas 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, French Guiana and Suriname. 

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

 

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