Tullow Oil PLC
17 January 2006
News release
Tullow Oil Plc - Uganda: Block 2 Mputa-1 exploration well
17 January 2006 - Tullow Oil plc (Tullow) announces that the Mputa-1 exploration
well in Uganda has encountered oil shows over two intervals within the deeper
objective and wireline logs have indicated that these intervals are hydrocarbon
bearing. A wireline pressure and sampling programme has commenced and, as of 16
January, oil samples have been recovered from the first such interval, a sand of
approximately 10 metres gross thickness at a depth of 965 metres. The sampling
programme is continuing and will include the lower interval where evidence of
hydrocarbons has also been encountered.
In accordance with the planned drilling programme for Block 2, the well will be
plugged and abandoned upon completion of the wireline sampling programme; any
production testing of Mputa-1 will be considered in conjunction with future
drilling. The rig will then move to the Waraga-1 location approximately 20 km to
the north east of Mputa-1.
Mputa-1 targeted multiple objectives on a structural prospect defined by the
2005 seismic survey in an area with surface oil seeps. The results of the
Mputa-1 discovery provide encouragement for further evaluation of the
surrounding area where a number of other prospects and leads have been
identified. Further work will be required before any comment can be made on the
size or commercial significance of the potential resource.
Commenting today, Aidan Heavey, Chief Executive of Tullow said:
'The initial results of the Mputa-1 well are very significant in that they prove
the existence of a working petroleum system in the Albertine Basin where Tullow
has a 50% equity interest throughout. While it is too early to determine the
size or potential commerciality of Mputa-1, the results significantly reduce the
risk of the prospects mapped in Blocks 2 and 3A. We now look forward to the
drilling of the Waraga-1 well in Block 2 and the Kingfisher prospect in Block
3A'.
If you have any questions on this announcement please contact:
Tullow Oil plc Citigate Dewe Rogerson Murray Consultants
(+44 20 8996 1000) (+44 207 638 9571) (+353 1 498 0300)
Aidan Heavey Martin Jackson Joe Murray
Chris Perry
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 250 Index. The Group has interests in approximately 90
production and exploration licences in 16 countries and focuses on three core
areas: NW Europe, West Africa and South Asia.
Tullow's NW Europe 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/Hewett areas and operates over 60% of its production.
In Africa, Tullow has production and exploration in Gabon, Cote d'Ivoire, Congo
(Brazzaville) and Equatorial Guinea. Tullow also has exploration programmes in
Morocco, Mauritania, Senegal, Cameroon, Uganda and Angola.
In South Asia, Tullow has production and exploration interests in Pakistan and
exploration activities in India and Bangladesh.
For further information please refer to our website at www.tullowoil.com
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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