Well Result

RNS Number : 5812J

Tullow Oil PLC

01 April 2010

 



News Release

 

 

Likonde-1 exploration well result

1 April 2010 - Tullow Oil plc (Tullow) announces that the Likonde-1 well, onshore Tanzania, has encountered thick sands with hydrocarbon shows.

Likonde-1 is located in the Lindi Block in the Ruvuma Basin of Southern Tanzania. The well has been drilled to a total depth of 3,647 metres and results of drilling, wireline logs and side-wall coring have shown that the well has intersected two sandstone intervals of over 250 metres combined thickness with evidence of residual oil and gas. Drilling had to be terminated in the deepest objectives due to high gas influx.

The well, which is now being plugged and abandoned, is the first of a two-well programme within the prospective Ruvuma delta region. The encouraging results will be followed up with detailed technical work prior to selecting the next drilling location.

Tullow (50%) operates the Lindi and Mtwara blocks in partnership with Aminex. Solo Oil is earning an interest through farming into 12.5% of Aminex's 50% interest in the well and has an option to elect to become a full joint venture partner.  If Solo exercises its option, Aminex's interest in the Ruvuma Licence will be reduced to 37.5%. 

Commenting today, Angus McCoss, Exploration Director, said:

"Likonde-1 is an encouraging well with follow-up exploration potential. The valuable technical insights gained are now being incorporated into our regional geological model to further evaluate this promising basin in Southern Tanzania."

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.

 

END

 

 

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