Well Update

RNS Number : 0286Q

Tullow Oil PLC

28 July 2010

 



News Release

 

Successful Ngiri-2 appraisal well

28 July 2010 - Tullow Oil plc (Tullow) announces that the Ngiri-2 appraisal well, which is located in the Butiaba region of Uganda Block 1, has encountered over 40 metres of net oil bearing reservoir in two zones within an overall 131 metre gross oil bearing interval.

The well was drilled 1.7 km north of the Ngiri-1 discovery well (drilled on the Warthog prospect) to a total depth of 892 metres. Successful logging and sampling operations have confirmed the presence of moveable oil in two zones. The lower zone encountered an oil water contact while pressure data acquired within the upper zone indicates the possibility of a deeper contact than expected. Reservoir quality is also excellent, akin to the Kasamene field in Block 2, where a production rate of 3,500 bopd was achieved during testing in 2009.

The Ngiri-2 well was the first of a multi-well appraisal programme planned to further evaluate the extent and recovery potential of the Ngiri field. Further activities will take place in 4Q 2010 with the drilling of down-dip appraisal wells Ngiri-3 and Ngiri-4 designed to establish oil water contacts and reservoir distribution.

The well has been suspended and the IRR-600 rig is moving to the Mpyo-1 location where material wildcat drilling operations will commence.

Tullow operates its 100% interests in three licences, Blocks 1, 2 and 3A, in the Lake Albert Rift Basin in Uganda.

Commenting today, Angus McCoss, Exploration Director said:

"The 40 metres of net oil pay in Ngiri-2 is the thickest oil pay so far encountered in the Butiaba area, demonstrating that after 32 successes in 33 wells the Lake Albert Rift Basin continues to deliver from the undrilled upside potential. Our exploration and appraisal campaign in Uganda has now discovered over 950 million barrels of oil (P50). In addition to this, our estimate of the yet to find prospective resource remains unchanged at 1.5 billion barrels of oil (P50). This continued success supports our planning for the accelerated basin-wide development with our future new partners Total and CNOOC."

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc ([phone]) Angus McCoss James Arnold

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 Pakistan and Bangladesh. 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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