Well Update - Ghana

RNS Number : 6973D

Tullow Oil PLC

28 March 2011

 



News Release

 

 

Teak-2 exploration well discovers hydrocarbons offshore Ghana

28 March 2011 - Tullow Oil plc (Tullow) announces that the Teak-2 exploration well in the West Cape Three Points licence offshore Ghana has discovered 27 metres of net hydrocarbon bearing Campanian and Turonian reservoirs.

The well was targeting an undrilled fault block between the Jubilee field and the Teak-1 discovery, located 1.8 km southwest of the recent Teak-1 well and 3.5 km northeast of the Mahogany-2 well. Results of drilling, wireline logs and samples of reservoir fluids confirm that the well has intersected five intervals containing high quality oil, gas and gas-condensate.

Six metres of net oil and gas pay were encountered at the top of good quality Campanian reservoirs, over 100 metres thick.

Jubilee equivalent Turonian reservoirs contain 21 metres of net hydrocarbon pay, 16 metres of which is rich gas. Static pressure data suggests this potentially forms a gas cap to the Jubilee oil field. Future analyses and pressure interference testing will determine hydrocarbon contacts and the extents of these two adjoining fields.

The Atwood Hunter rig drilled Teak-2 to a total depth of 3,409 metres in water depths of 885 metres. On completion of operations, the well will be suspended for future use and the rig will move to drill the Banda-1 well which is targeting Campanian and Cenomanian reservoirs in the east of the licence.

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:

"The discovery of hydrocarbons at the Teak-2 location is a very good result, providing important data for the future development of the Jubilee field. The well demonstrated that the Teak-2 discovery is not part of the Teak-1 discovery but is potentially a Jubilee field gas cap. The Campanian reservoirs at Teak-2 confirm significant up-dip potential in the greater Teak area. Our West Cape Three Points E&A campaign is continuing to deliver and we now look forward to drilling the Banda-1 wildcat well."

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 90 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 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, 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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