Well Update

RNS Number : 1446W

Tullow Oil PLC

15 November 2010

 



News Release

 

Oil discovery in the Mercury-1 exploration well offshore Sierra Leone

15 November 2010 - Anadarko Petroleum Corporation, the operator of the deepwater Mercury-1 exploration well in Sierra Leone, in which Tullow Oil plc (Tullow) is a 10% partner, today issued the following press release.

HOUSTON, Nov. 15, 2010 - Anadarko Petroleum Corporation (NYSE: APC) today announced the Mercury-1 exploration well offshore Sierra Leone encountered approximately 135 net feet of oil pay in two Cretaceous-age fan systems. Mercury is the company's second deepwater test in the Sierra Leone-Liberian Basin and was drilled to a total depth of approximately 15,950 feet in about 5,250 feet of water. 

"The Mercury well demonstrates that the stratigraphic trapping systems we've identified are working, and that the petroleum system is generating high-quality oil," Anadarko Sr. Vice President, Worldwide Exploration Bob Daniels said. "In the primary objective, the Mercury well encountered approximately 114 net feet of light sweet crude oil with a gravity of between 34 and 42 degrees API, with no water contact. An additional 21 net feet of 24-degree gravity crude was encountered in a shallower secondary objective.

"These results continue to build momentum in the basin and enhance our confidence in the team's seismic interpretation and geologic modeling," added Daniels. "We are preserving the wellbore for potential re-entry, DST (drillstem testing) or a down-dip sidetrack to further delineate the reservoir's areal extent, quality and deliverability. We also plan to continue working with the government of Sierra Leone and our partnership to accelerate exploration and appraisal activity in the area in 2011."

The Mercury discovery is located in offshore block SL-07B-10 approximately 40 miles east-southeast of Anadarko's previously announced Venus discovery. Anadarko holds an interest in more than 4.6 million acres on five deepwater blocks offshore Sierra Leone and Liberia, and has identified more than 17 prospects and leads on 3-D seismic on this acreage. Once operations are complete at the Mercury well, the company has committed to mobilize the drillship to Ghana to accelerate the appraisal program at the Owo and Tweneboa fields, which the company anticipates sanctioning in 2011. 

Anadarko operates block SL-07B-10 with a 65-percent working interest. Co-owners in the block include Repsol Exploracion Sierra Leone, S.L. (25-percent working interest) and Tullow Sierra Leone B.V. (10-percent working interest).

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc ([phone]) Paul McDade Chris Perry

Citigate Dewe Rogerson ([phone]) Martin Jackson George Cazenove

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 85 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 Gabon, Côte d'Ivoire, Mauritania, Congo (Brazzaville) and Equatorial Guinea and 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, Congo (DRC), Tanzania, Madagascar, 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.

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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