Well update - Norway

RNS Number : 7998M

Tullow Oil PLC

21 July 2014

 



News Release

Well update - Norway

21 July 2014 - Tullow Oil plc ("Tullow") today announces that Tullow Oil Norge AS, operator of the production licence PL 507, did not encounter hydrocarbons in the Lupus exploration well (31/10-1) which will now be plugged and abandoned. The well is located 35 km south east of the Oseberg Sør Field and 110 km west of the island of Sotra in the North Sea. This is the first well in production licence PL 507.

The primary objective of the Lupus-1 wildcat exploration well was to find hydrocarbons in the Paleocene Hermod Formation in a stratigraphic trap. The well also targeted reservoir quality sandstones of the Paleocene Ty Formation of the Rogaland Group. The well found good quality sandstones in the Paleocene Hermod Formation but no hydrocarbons were encountered. No sandstones were found in the Paleocene Ty Formation. The well will now be plugged and abandoned and well data gained will be used to calibrate geological and geophysical uncertainties and reduce risks in future exploration wells.

The well was drilled to a Total Depth of 2,357 metres by the semi-submersible Borgland Dolphin rig in a water depth of 121 metres. Tullow Oil Norge AS is the operator of production licence PL 507 with 60% equity (40% paying interest). The other partners are Explora Petroleum (20%),Ithaca Energy (10%) and North Energy (10%).

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 Shabnam Bashir

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

Notes to Editors              

Tullow Oil plc

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 140 exploration and production licences across 23 countries which are managed as three regional business units: West & North Africa, South & East Africa and Europe, South America and Asia.

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