Tullow Oil PLC
07 March 2006
News release
Tullow Oil Plc - Uganda: Block 2 Waraga-1 exploration well
7 March 2006 - Hardman Resources, the operator of the Waraga-1 exploration well
in Uganda, in which Tullow Oil Plc (Tullow) is a 50% partner, today issued the
following press release. Tullow will provide a further update once logging
operations have been completed.
'Since the last report on 28 February, the Waraga-1 well was drilled to a depth
of 1,768 metres. Wireline logs, including wireline pressure and sampling tools,
were run at this depth to investigate hydrocarbons encountered in the well
(elevated gas readings and oil shows). Subsequent evaluation of these logs and
pressure measurements indicates a gross hydrocarbon interval of 32 metres with a
net pay ratio of approximately 50% and the hydrocarbon type is interpreted as
oil. Samples are yet to be recovered from the well because of problems with the
wireline sampling tool. No oil water contact has been observed although the
well has now passed into probable water bearing sands below the hydrocarbon
interval.
Multiple objectives are interpreted in this prospect and, on the basis of
seismic correlations between Waraga-1 and Mputa-1, we still expect to intersect
deeper objectives, similar to the oil bearing intervals in Mputa-1, before
Waraga-1 reaches total depth.
At midnight on 5 March the well was drilling ahead at 1,872 metres towards a
revised planned total depth of approximately 2,050 metres. Wireline logs
including a pressure and sampling programme will be conducted to further
evaluate this reported hydrocarbon interval and the expected deeper objectives.
Waraga-1 is located 19 kilometres to the northeast of the recently drilled
Mputa-1 oil discovery well and 41 kilometres southwest of the Butiaba Waki-1
well (drilled in 1938). Waraga-1 is testing a structural prospect with identical
geological targets to the oil bearing reservoirs seen at Mputa-1. The Waraga
prospect was defined by the 2005 onshore seismic survey and the geological risk
was significantly reduced by the success of Mputa-1.'
If you have any questions on this announcement please contact:
Tullow Oil plc Citigate Dewe Rogerson Murray Consultants
(+44 20 8996 1000) (+44 207 638 9571) (+353 1 498 0300)
Aidan Heavey Martin Jackson Joe Murray
Tom Hickey
Chris Perry
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 250 Index. The Group has interests in approximately 90
production and exploration licences in 16 countries and focuses on three core
areas: NW Europe, West Africa and South Asia.
Tullow's NW Europe 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 60% of its production.
In Africa, Tullow has production and exploration in Gabon, Cote d'Ivoire, Congo
(Brazzaville) and Equatorial Guinea. Tullow also has exploration programmes in
Morocco, Mauritania, Senegal, Cameroon, Uganda and Angola.
In South Asia, Tullow has production and exploration interests in Pakistan and
exploration activities in India and Bangladesh.
For further information please refer to our website at www.tullowoil.com
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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