West African Transform Margin Exploration Update

RNS Number : 6818B

Tullow Oil PLC

19 April 2012

 



News Release

 

 

West African Transform Margin Exploration Update

19 April 2012 - Tullow Oil plc (Tullow) announces that the Mercury-2 exploratory appraisal well in Sierra Leone and the Kosrou-1 exploration well in Côte d'Ivoire have both encountered water bearing reservoirs with oil shows.

Mercury-2 - Sierra Leone

The Mercury-2 well was drilled 12 kilometres northwest of the Mercury-1 oil discovery, targeting an area where the extensive 3D seismic coverage indicated a high probability of finding thick reservoir quality sandstones. It intersected over 270 metres of reservoir quality sandstones which were water bearing with oil shows at this location.

The Discoverer Spirit drillship drilled Mercury-2 to a final depth of 5,142 metres in water depths of 1,815 metres.

Anadarko (55%) is Operator of offshore Block SL-07B-11 along with partners Repsol (25%) and Tullow (20%).

Kosrou-1 - Côte d'Ivoire

The Kosrou-1 well was drilled in the CI-105 block, 17 kilometres east south east of the previous South Grand Lahou-1 well, targeting a channel system identified on the 3D seismic survey acquired in 2010. It intersected 90 metres of reservoir quality sandstones with oil shows in the primary target and over 120 metres in total in the well.

The Eirik Raude semi-submersible drilled Kosrou-1 to a final depth of 5,241 metres in water depths of 2,275 metres. On completion of operations the rig will return to the Paon-1 location to complete the drilling of that well. Paon-1 is a high impact prospect which is geologically independent from Kosrou and closer to our discoveries in Ghana.

Anadarko (50%) is Operator of offshore Block CI-105 along with partners Tullow (22%), Petroci (15%) and Thani (13%).

Commenting today, Angus McCoss, Exploration Director, said:

"Kosrou-1 and Mercury-2 encountered significant reservoir sands which were water bearing with oil shows. The existence of thick sandstone fairways and a working hydrocarbon system, proven by every well in our exploration campaign, mean that our West African Transform Margin acreage remains highly prospective. The well data will now be integrated into our regional models to improve our chances of making a hub-class discovery with the ongoing campaign which includes the Strontium-1 well in Liberia and the Paon-1 well in Côte d'Ivoire."

FOR FURTHER INFORMATION CONTACT:

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

Citigate Dewe Rogerson ([phone]) Martin Jackson Kate Lehane

Murray Consultants ([phone]) Joe Murray Ed Micheau

Notes to Editors

Tullow is a leading independent oil and gas, exploration and production group and is quoted on the London, Ghana and Irish Stock Exchanges (symbol: TLW.L). The Group has interests in over 90 production and exploration licences in 22 countries which are managed as three regional business units: West & North Africa, South & East Africa and Europe, South America and Asia.

In Africa, Tullow has production in Ghana, Gabon, Côte d'Ivoire, Mauritania, Congo (Brazzaville) and Equatorial Guinea with 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, Tanzania, Madagascar, Namibia, Kenya and Ethiopia.

Tullow's European interests are focused on gas in the UK Southern North Sea where it has significant interests in the Caister-Murdoch System and the Thames area and in the Netherlands where it has offshore gas production, development and exploration opportunities.

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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ENDS

 

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