Well Update - Ghana

RNS Number : 9837A

Tullow Oil PLC

10 February 2011

 



News Release

 

 

Teak-1 exploration well discovers hydrocarbons offshore Ghana

10 February 2011 - Tullow Oil plc (Tullow) announces that the Teak-1 exploration well in the West Cape Three Points licence offshore Ghana has discovered approximately 73 metres of net hydrocarbons in two Campanian and three Turonian-aged reservoirs. The well was located 4.6 km northeast of the Mahogany-2 well, 2.7 km outside the Jubilee Unit boundary.

In the shallower Campanian-aged reservoirs, the well intersected 6 metres of oil pay in the upper zone and 33 metres of gas pay with an underlying 15 metre 40 degree API oil leg, in the lower zone.  In the deeper stratigraphic Turonian-aged reservoirs, the well intersected 14 metres of gas-condensate pay in two separate zones and 5 metres of 32 degree API oil pay in a deeper level.

The up-dip combination structural and stratigraphic Campanian trap is potentially 50 sqkm in area and will be the subject of further appraisal activity. Interpretation of the potential extent of each of the deeper Turonian zones is ongoing.

The Atwood Hunter rig drilled Teak-1 to a total depth of 3,170 metres in water depths of 868 metres. On completion of operations, the well will be suspended for future use and the rig will move to drill the Teak-2 well which is targeting Campanian and Turonian age reservoirs in a separate fault block between the Teak discovery and the Jubilee field.

Tullow has a 22.896% interest in the West Cape Three Points licence and its partners are Kosmos Energy (Operator) and Anadarko Petroleum Corporation (30.875% each), the E.O.Group (3.5%), Sabre Oil & Gas Holdings Ltd (1.854%) and the Ghana National Petroleum Corporation (GNPC) (10% carried interest).

Commenting today, Angus McCoss, Exploration Director, said:

"Success in all five of the targeted reservoirs, encountering 73 metres of total net pay, is an excellent outcome for the Teak-1 well and a great start to our 2011 multi-well exploration campaign in the West Cape Three Points licence. The significant potential of this discovery, up-dip of Jubilee, will be appraised during 2011 and 2012 once the current drill-out campaign has been completed."

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 Ghana, Gabon, Côte d'Ivoire, Mauritania, Congo (Brazzaville) and Equatorial Guinea with 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, Kenya and Ethiopia.

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.

In South Asia, Tullow has exploration and production in Bangladesh and exploration interests in Pakistan. 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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