Ethiopia drilling update

RNS Number : 2110M

Tullow Oil PLC

14 July 2014

 



News Release

Ethiopia drilling update

14 July 2014 - Tullow Oil plc ("Tullow") today announces that the Gardim-1 exploration well, drilled on the eastern flank of the Chew Bahir Basin in the South Omo licence, onshore Ethiopia, has reached a total depth of 2,468 metres in basement, without encountering commercial oil.

The well intersected lacustrine and volcanic formations, similar to those found in the Shimela-1 well on the north-western flank of the basin. Minor intervals with thermogenic gas shows were intersected just above basement. The well will be plugged and abandoned and drilling operations will now be demobilised whilst these results are integrated into the regional basin model.

Meanwhile seismic interpretation continues on independent prospectivity elsewhere in the licence and the next phase of our Ethiopia exploration campaign will target these prospects.

Angus McCoss, Exploration Director, Tullow Oil plc commented today,

"We have now drilled two independent wildcat wells in the Chew Bahir Basin, neither of which encountered commercial oil. Whilst our analysis continues, initial indications suggest that the targeted seismic anomalies related to lavas that flowed into a lake basin. Having gained valuable data, including evidence of thermogenic gas, we look forward to the next phase of our exploration campaign in Ethiopia."

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.

Follow Tullow on:

Twitter: www.twitter.com/TullowOilplc                                         YouTube: www.youtube.com/TullowOilplc 

Facebook: www.facebook.com/TullowOilplc                                 LinkedIn: www.linkedin.com/company/Tullow-Oil

IR App: bit.ly/TullowApp                                                                    Website: www.tullowoil.com 

 

END

 

 

MSCGGUBGMUPCUBC