Tweneboa-2 well update

RNS Number : 8865F

Tullow Oil PLC

21 January 2010

 



News Release 

Tweneboa-2 discovers significant oil and gas-condensate field

21 January 2010 - Tullow Oil plc (Tullow) announces that the Tweneboa-2 exploratory appraisal well, being drilled some 6 km southeast of the Tweneboa-1 discovery, has intersected a significant combined hydrocarbon column. Results of drilling, wireline logs and samples of reservoir fluids establish that Tweneboa is a major oil and gas-condensate field.

The well has encountered a gross reservoir interval of 153 metres containing 32 metres of net hydrocarbon pay in stacked reservoir sandstones, comprising a 17 metre oil bearing zone below a 15 metre gas-condensate bearing zone.

A combined hydrocarbon column of at least 350 metres has been established between the lowest known oil in Tweneboa-2 and the top of the gas-condensate at Tweneboa-1, demonstrating this is a highly prospective and extensive turbidite fan system that will be evaluated with additional drilling.

Following completion of logging operations the well will be deepened to test further exploration potential beneath the Tweneboa field. The well will then be suspended for future use in appraisal and development.

The Atwood Hunter semi-submersible drilled Tweneboa-2 in the Deepwater Tano block to an interim depth of 3,860 metres in water depths of 1,321 metres. On completion of operations on Tweneboa-2, the rig will move to drill an exploration well in the West Cape Three Points block east of the Jubilee field.

Tullow (49.95%) operates the Deepwater Tano licence and is partnered by Kosmos Energy (18%), Anadarko Petroleum (18%), Sabre Oil & Gas (4.05%) and the Ghana National Petroleum Corporation (GNPC) (10% carried interest). 

Commenting today, Angus McCoss, Exploration Director, said:

"Tweneboa-2 was a bold step-out which has successfully proven the significant extent of a major new oil and gas-condensate field offshore Ghana. Such an achievement provides a very good start to our exciting 2010 Equatorial Atlantic campaign. We look forward to further appraising this discovery later in the year."

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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