Well Update

RNS Number : 5901E
Tullow Oil PLC
23 December 2009
 



News Release 




Mahogany Deep-2 appraisal well confirms southerly extent of Jubilee field 

 

23 December 2009 - Tullow Oil plc (Tullow) announces that the Mahogany Deep-2 appraisal well offshore Ghana 

confirmed the down-dip extent of the main Jubilee reservoirs in the West Cape Three Points Block and
intersected two new light oil accumulationsGood quality reservoirs were encountered in the Mahogany Deep section but were water bearing at this location.


Mahogany Deep-2, drilled km from Mahogany-3, is the furthest down-dip Jubilee well in the West Cape Three Points licenceResults of drilling, wireline logging and samples of reservoir fluid indicate that the well has encountered good quality hydrocarbon-bearing reservoir sandstones in three zones. An interval of 12 metres net pay has proved an extension of the main Jubilee reservoirs. In addition, a new shallower accumulation, with 2 
metres net pay
was encountered and supports exploration prospectivity in undrilled areas to the south and east. 


In total, the well intersected 53 metres of net reservoir sandstones, 20 metres of which were in the Mahogany 

Deep section. These were found to be water bearing at this location but are not connected to the Mahogany Deep 

accumulation at Mahogany-3. Further extensions to the Mahogany Deep accumulation may exist to the south and east of Mahogany-3.


A new reservoir was also encountered in a deeper stratigraphic level beneath the Mahogany Deep section and an oil sample was successfully recovered from a 1 metre zone which has not been encountered in any other wells in the West Cape Three Points licence to date. 


The new accumulations discovered by the well will now be evaluated using the recently reprocessed high resolution 3D seismic data and may be the target of future drilling. Further potential extensions of the Jubilee field and associated prospectivity will be drilled early in 2010.


The Aban Abraham dynamically positioned drill-ship drilled Mahogany Deep-2 to the current depth of 4,326 metres in water depths of 1,354 metres.


Tullow has a 22.896% interest in the West Cape Three Points licence and its partners are Kosmos Energy (Operator) and a subsidiary of Anadarko Petroleum Corporation, (30.875% each), the E.O. Group (3.5%), Sabre Oil & Gas (1.854%) and the Ghana National Petroleum Corporation (GNPC) (10% carried interest).


Further updates on the Jubilee field will be contained in the Group's Trading Statement which is now scheduled for release on Wednesday 27 January 2010.


Commenting today, Angus McCoss, Exploration Director, said:

"Confirming the southerly extent of the main Jubilee reservoirs and encountering two new oil pools takes us another step closer to realising the full potential of the Greater Jubilee Area. Results from the current exploratory appraisal campaign are being integrated to define the resource base and the future phases of development 

beyond first oil in Q4 2010. 


We also look forward to continued exploration and appraisal success in Ghana and throughout the Equatorial Atlantic region where Tullow has built commanding acreage position. We are currently drilling the potentially 

high-impact Tweneboa-2 appraisal well and expect to report on its result in February."



FOR FURTHER INFORMATION CONTACT:

 

Tullow Oil plc 

(+44 20 8996 1000)

Angus McCoss

Chris Perry

James Arnold

Citigate Dewe Rogerson 

(+44 207 638 9571) 

Martin Jackson

George Cazenove

Murray Consultants 

(+353 1 498 0300) 

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 85 exploration and production licences across 23 countries and focuses on four core areas: AfricaEuropeSouth Asia and South America.


In Africa, Tullow has production in GabonCôte d'IvoireMauritaniaCongo (Brazzaville) and Equatorial Guinea and two large appraisal and development programmes in Ghana and Uganda. Tullow also has exploration interests in GabonCôte d'IvoireLiberiaSierra LeoneMauritaniaSenegal, Congo (DRC), TanzaniaMadagascar

Namibia and Angola.


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 area. The company also has interests offshore the 
Netherlands and Portugal


In South Asia, Tullow has exploration and production in Pakistan and Bangladesh. In South America, Tullow has exploration interests in GuyanaFrench Guiana and Suriname


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


This information is provided by RNS
The company news service from the London Stock Exchange
 
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