Well Update - Liberia

RNS Number : 7414R

Tullow Oil PLC

09 November 2011

 



News Release

 

 

Montserrado-1 makes a non-commercial oil discovery

09 November 2011 - Tullow Oil plc (Tullow) announces that the Montserrado-1 exploration well, offshore Liberia, has made a non-commercial oil discovery in Late Cretaceous reservoir sands. This result is an important exploration breakthrough, establishing a working hydrocarbon system in the Liberian basin.

The well was drilled in block LB-15 to a total depth of 5,400 metres and encountered good-quality, water-bearing sands in the main objective. In a deeper secondary objective, approximately 8 metres of hydrocarbon pay was intersected and a sample of light oil was recovered.

The well is being plugged and abandoned and the drillship is being mobilised to Sierra Leone to drill the Mercury-2 appraisal well and the Jupiter exploration well on block SL-07B-11.

Tullow has a 25.00% working interest in the licence and is partnered by the operator, Anadarko Petroleum (47.5%) and Repsol (27.5%).

Commenting today, Angus McCoss, Exploration Director, said:

"Whilst this wildcat well made a sub-commercial discovery at this location, we have gained critical insights which we will now integrate with our extensive 3D seismic data for follow-up drilling in our highly prospective Liberian acreage. We now look forward to the drilling of the high-impact Jupiter and Mercury-2 wells in Sierra Leone."

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 & 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 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

 

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