Well Update

RNS Number : 2443U

Tullow Oil PLC

13 May 2008

 

News release 

Successful Taitai-1 exploration well in Uganda

13 May 2008 - Tullow Oil plc (Tullow) announces that the Taitai-1 exploration well, drilled in the Butiaba region of Uganda Block 2, has encountered five metres of net gas pay and at least eight metres of net oil pay. A thick section of oil-stained basement was also encountered and provides upside potential both at Taitai-1 and elsewhere in the Lake Albert Rift Basin.

The well was drilled to a total depth of 1,006 metres and has been successfully logged. Downhole pressure testing and sampling has confirmed the presence of moveable 30 degrees API oil and a potential oil column of up to 80 metres, in sands above the basement play. 

The uppermost oil sand exhibited high permeability; however pressure sampling of underlying oil sands was inconclusive. This uncertainty provides upside beyond the eight metres net oil pay, consequently the well is being sidetracked and the oil bearing zones cored to collect further reservoir and fluid information for detailed analysis.

The Taitai-1 well is the first of a nine-well exploration campaign in the Butiaba area of the Lake Albert Rift Basin. On completion of operations at Taitai-1, the rig will move 10 kilometres to the north-east and drill the Lanya-1 prospect at the end of May. The best candidates for testing will be assessed on overall merit, at the end of the drilling campaign.  

Commenting Today, Aidan Heavey, Chief Executive of Tullow said:

'The discovery of oil at Taitai has proved the existence of a working petroleum system over 70 kilometres from the previous wells drilled in the Kaiso-Tonya region and further reinforces the potential of Lake Albert Rift Basin as a major emerging petroleum province. We are encouraged by the Taitai result and look forward to the remainder of the campaign in the Butiaba area'

For further information contact: 

Tullow Oil plc  ([phone]) Aidan Heavey Tom Hickey Chris Perry

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

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 100 exploration and production licences across 23 countries and focuses on four core areas: Europe, Africa, South Asia and South America.

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-Hewett areas and operates over 70% of its production. The company also has interests offshore the Netherlands and Portugal.

In Africa, Tullow has exploration and production in Gabon, Côte d'Ivoire, Mauritania and Equatorial Guinea and two large appraisal and development programmes in Ghana and Uganda. Tullow also has exploration interests in Mauritania, Senegal, Congo (DRC), Tanzania, Madagascar, Namibia and Angola.

In South Asia, Tullow has exploration and production in Pakistan and Bangladesh and high impact exploration activities in India.

In South America Tullow has high impact exploration interests in Trinidad and Tobago, French Guiana and Suriname.

For further information please refer to our website at www.tullowoil.com   

 

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