Well Update - Sierra Leone

RNS Number : 7687X

Tullow Oil PLC

21 February 2012

 



News Release

Jupiter-1 discovery offshore Sierra Leone

21 February 2012 - Tullow Oil plc (Tullow) announces that the Jupiter-1 exploration well in Block SL-07B-11 offshore Sierra Leone has successfully encountered hydrocarbons. This has been confirmed by the results of drilling, wireline logs and samples of reservoir fluids.

The well, located over 25 kilometres west of the Mercury-1 well which discovered oil in the block, intersected 30 metres of hydrocarbon pay in the primary Upper Cretaceous objective and did not encounter a hydrocarbon water contact. The well has been preserved for possible future re-entry, as the area is likely to require additional evaluation.

Jupiter-1 was drilled by the Transocean Discoverer Spirit drillship to a total depth of 6,465 metres in a water depth of 2,199 metres. On completion of operations, the drillship will move 15km northeast to the Mercury-2 well which will target several reservoir levels including extensions of the oil accumulations discovered by the Mercury-1 well.

Anadarko (55%) is Operator of offshore Block SL-07B-11 along with partners Repsol (25%) and Tullow (20%).

Angus McCoss, Exploration Director of Tullow, commented today:

"Jupiter is the third discovery in the Liberian Basin by Tullow and its Partners and provides further support for the stratigraphic play in the region. The presence of a working petroleum system producing gas and light oil in the basin is encouraging. Our technical teams will continue evaluating prospectivity across our significant regional acreage position. We will further test the play through the drilling of Mercury-2 in Sierra Leone and Kosrou-1 which is currently drilling in Côte d'Ivoire."

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]) Ed Micheau Joe Heron

Tullow Group Overview

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian (symbol: TLW) stock exchanges 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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