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Tullow Oil PLC (TLW)

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Tuesday 08 May, 2012

Tullow Oil PLC

Well Update - Kenya

RNS Number : 8243C
Tullow Oil PLC
08 May 2012
 



News Release

 

 

Ngamia-1 well in Kenya Rift Basin discovers further oil

 

7 May 2012 - Tullow Oil plc (Tullow) announces that the Ngamia-1 exploration well onshore Kenya in Block 10BB has now been drilled to an intermediate depth of 1,515 metres and the total net oil pay encountered so far has increased to in excess of 100 metres across multiple reservoir zones.

 

Following the initial announcement on 26 March 2012, that Ngamia-1 had encountered in excess of 20 metres of net oil pay, the well has now been deepened from 1,041 metres to 1,515 metres. A sidetrack was required in this section and following completion of logging and sampling in difficult hole conditions, a total pay count greater than 100 metres has now been discovered over a gross oil bearing interval of 650 metres. Oil samples with an API greater than 30 degrees have been recovered to surface from the newly drilled section with similar properties to the light waxy crude encountered in the upper reservoir zone.

 

The Ngamia structure is the first prospect to be tested as part of a multi-well drilling campaign in Kenya and Ethiopia. Many leads and prospects similar to Ngamia have been identified and following this discovery the outlook for further success has significantly improved. Tullow has proposed to the Government an increase in 2D seismic acquisition and the sourcing of an additional rig to increase drilling activities.

 

The Ngamia-1 well will continue to be drilled to a total depth of approximately 2,700 metres to explore for deeper potential. Plans are being put in place to drill stem test the well although the exact timing of this testing is yet to be decided. The Weatherford 804 rig will then move 31 kilometres to the Tullow Operated Block 13T, where the Twiga-1 (formerly known as Mbango-A) wildcat well will spud in the second half of 2012. A further rig is being sourced to drill the Tullow Operated Block 10A Paipai prospect in Marsabit County.

 

Tullow has a 50% operated interest in seven onshore licences in the Kenya & Ethiopia Rift Basins covering in excess of 100,000 square kilometres. The basin where the Ngamia discovery has been made is one of seven basins mapped in Tullow's acreage and is similar in size to the Lake Albert Rift Basin in Uganda.

 

Tullow (50%) operates Block 10BB and is partnered by Africa Oil (50%).

 

Commenting today, Angus McCoss, Exploration Director, said:

"This ongoing wildcat is an excellent start to our exploration campaign. The net pay encountered so far in Ngamia-1 is more than double that encountered in any of our East African exploration wells to date. We now look forward to the drilling and evaluation of the deeper potential of this well and the acceleration of our seismic and drilling campaigns in the region."

 

 

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc
(+44 20 3249 9000)

Chris Perry - Investor Relations

James Arnold - Investor Relations

George Cazenove - Media Relations

Citigate Dewe Rogerson
(+44 207 638 9571)
Martin Jackson

Kate Lehane

Murray Consultants
(+353 1 498 0300)
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.

 

Follow Tullow on:

Twitter: www.twitter.com/TullowOilplc

You Tube: www.youtube.com/TullowOilplc 

Facebook: www.facebook.com/TullowOilplc 

LinkedIn: www.linkedin.com/company/Tullow-Oil

 

ENDS

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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