Well Update

RNS Number : 9607Y

Tullow Oil PLC

01 March 2013

 



News Release

Paipai-1, onshore Kenya, suspended for future evaluation

1 March 2013 - Tullow Oil plc (Tullow) announces the suspension of the Paipai-1 exploration well in Kenya for ongoing evaluation.

The well, located in the Marsabit County of Kenya Block 10A, has been drilled to a total depth of 4,255 metres and has been successfully logged. The well was drilled to evaluate a large structural closure of Cretaceous age in the Anza Basin.

Light hydrocarbon shows were encountered whilst drilling a 55 metre thick gross sandstone interval. This sandstone is overlain by a 200 metre thick source rock which forms an effective regional top seal. Several attempts to sample the initial reservoir fluids were unsuccessful and the hydrocarbons encountered whilst drilling were not recovered to surface. The well has consequently been temporarily suspended pending agreement on future evaluation options.

After suspension operations have been concluded at Paipai, the rig will move to the South Lokichar Basin in Block 10BB and drill the Etuko prospect in the undrilled basin flank play. The move is expected to take 3 months.

Tullow has a 50% operated interest in the Paipai-1 well, Block 10A, with Africa Oil holding 30% and Afren holding the remaining 20%.

Angus McCoss, Exploration Director of Tullow Oil plc, commented today,  

"As we were unable to recover the hydrocarbons encountered whilst drilling, the well needs additional assessment. We will now carefully evaluate all the data and review the available technical options, which include possible flow testing and reservoir stimulation. From a frontier exploration perspective, we can already conclude that this part of the Anza Basin has the makings of a viable Cretaceous hydrocarbon play. Consequently, we will also be reviewing the follow-up Cretaceous prospects. Meanwhile, our exploration activities are accelerating in our core oil campaign in the Tertiary rift basins of Kenya and Ethiopia."

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc (London) ([phone]) Chris Perry (Investor Relations) James Arnold (Investor Relations) George Cazenove (Media Relations)

Citigate Dewe Rogerson (London) ([phone]) Martin Jackson Jack Rich

Murray Consultants (Dublin) ([phone]) Joe Murray Joe Heron

Notes to Editors

Tullow Oil

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW) and is a constituent of the FTSE 100 Index. The Group has interests in over 150 exploration and production licences across 25 countries which are managed as three regional business units: West & North Africa, South & East Africa and Europe, South America and Asia.

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

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