Well update - Sputnik-1 offshore Gabon

RNS Number : 9435T

Tullow Oil PLC

10 October 2014

 



News Release

 Well update - Sputnik-1 offshore Gabon

10 October 2014 - Perenco, Tullow Oil's partner in the Arouwe block offshore Gabon, today issued the following operational update. 

 "Perenco announces that the Sputnik-1 well, targeting a pre-salt structure in Gabon's offshore Arouwe block, has encountered non commercial hydrocarbon pay in up to 300 metres of net sandstone reservoir.

The Vantage Tungsten Explorer drill ship, drilled Sputnik-1 to a final depth of 4,868 metres in water depths of 1,023 metres.

The rig will now leave the Arouwe block and the results of this well will be incorporated into wider understanding of the region."

Tullow has a 35% interest in the Arouwe block with partners Perenco (35%, Operator) and ExxonMobil (30%).

Commenting on today's announcement, Angus McCoss, Exploration Director, said:

"This is an encouraging result from the pre-salt play, offshore Gabon. Having found a petroleum system, we will now take the data from this well and integrate it with our seismic data to discuss with partners our next steps for the licence."

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 21 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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