Tullow Oil PLC
18 September 2007
News release
Kudu-8 appraisal well update
18 September 2007 - Tullow Oil plc (Tullow) announces that the Kudu-8 appraisal
well has been drilled to a total depth of 4,355m and, following the results of
logging operations, will not now be flow tested. The well was designed to test
the potential for additional reserves within the Greater Kudu field area,
thereby broadening the range of development and commercialisation opportunities
available.
The well encountered the targeted gas bearing reservoir sands at 4,299m,
consistent with the results from the nearby Kudu-5 well drilled in 1998. These
sands were thicker and of a better quality than those in Kudu-5; however, the
reservoir permeability was lower at this location. The results of the logging
programme showed that any production from this well would not exceed the
19mmscfd rate recorded at Kudu-5. The joint venture has therefore decided not to
flow test the well, which has now been plugged and abandoned. The Pride South
Seas rig contract will now be terminated following this well and the results
fully integrated into Tullow's geological model for the area in advance of any
decisions on further drilling.
Commenting today, Aidan Heavey, Chief Executive of Tullow said:
'The result of the Kudu-8 well is a disappointment for Tullow. Despite
encountering improved reservoir development, it has not proved possible to
demonstrate commercial flow rates at this location and significant technical and
geological work will now be undertaken to determine the best future programme
for the area. Tullow does not expect this result to impact on the progress of
the Kudu gas-to-power project and remains committed to the joint venture and
will continue the process of developing this important Namibian natural
resource.'
For further information contact:
Tullow Oil plc Citigate Dewe Rogerson Murray Consultants
(+44 20 8996 1000) (+44 20 7638 9571) (+353 1 498 0300)
Aidan Heavey Martin Jackson Joe Murray
Tom Hickey Kate Delahunty
Chris Perry
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 250 Index. The Group has interests in over 120
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.
In Africa, Tullow has exploration and production in Gabon, Cote d'Ivoire, Congo
(Brazzaville), Mauritania and Equatorial Guinea and a gas field development in
Namibia. Tullow also has exploration programmes in Mauritania, Senegal,
Cameroon, Uganda, Congo (DRC), Tanzania, Madagascar, Angola and Ghana.
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, Suriname and the Falkland Islands.
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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