Well Update - Kenya

RNS Number : 0671A

Tullow Oil PLC

26 March 2012

 



News Release

 

Ngamia-1 oil discovery in Kenya Rift Basin

26 March 2012 - Tullow Oil plc (Tullow) announces that the Ngamia-1 exploration well in Kenya has encountered in excess of 20 metres of net oil pay.

The well, located in the Turkana County of Kenya Block 10BB, was drilled to an intermediate depth of 1,041 metres and has been successfully logged and sampled. Moveable oil with an API greater than 30 degrees has been recovered to surface. This oil has similar properties to the light waxy crude discovered in Uganda.

The Ngamia structure is the first prospect to be tested as part of a multi-well drilling campaign in Kenya and Ethiopia. Many leads and prospects similar to Ngamia have been identified and following this discovery the outlook for further success has been significantly improved.

The well will now be drilled to a depth of approximately 2,700 metres to explore for deeper potential. On completion of operations, the Weatherford 804 rig will move to the Tullow Operated Block 10A where the Paipai-1 wildcat will spud in 2H 2012.

Tullow has a 50% operated interest in multiple licences in the Kenya & Ethiopia Rift Basins covering in excess of 100,000 square kilometres. The Turkana County, where the Ngamia discovery has been made, is one of seven basins mapped in Tullow's acreage and is similar in size to the 9,000 square kilometre Lake Albert Rift basin in Uganda.

Tullow (50%) operates Block 10BB and is partnered by Africa Oil (50%).

Commenting today, Angus McCoss, Exploration Director, said:

"This is an excellent start to our major exploration campaign in the East African rift basins of Kenya and Ethiopia. To make a good oil discovery in our first well is beyond our expectations and bodes well for the material programme ahead of us. Tullow is working closely with the Government and people of Kenya as a committed long term partner to unlock the oil potential of the region. We look forward to further success as seismic and drilling activities continue to gather pace."

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc ([phone]) Chris Perry - Investor Relations James Arnold - Investor Relations George Cazenove - Media Relations

Citigate Dewe Rogerson ([phone]) Martin Jackson Kate Lehane

Murray Consultants ([phone]) Joe Murray Ed Micheau

Notes to Editors

Tullow is a leading independent oil and gas, exploration and production group and is quoted on the London, Ghana and Irish Stock Exchanges (symbol: TLW.L). The Group has interests in over 90 production and exploration licences in 22 countries which are managed as three regional business units: West & North Africa, South & East Africa and Europe, South America and Asia.

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 focused on gas in the UK Southern North Sea where it has significant interests in the Caister-Murdoch System and the Thames area and in the Netherlands where it has offshore gas production, development and exploration opportunities.

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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ENDS

 

END

 

 

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