Well result - C?te d'Ivoire

RNS Number : 8060V

Tullow Oil PLC

18 December 2013

 



 News Release

Paon-2A well result offshore Côte d'Ivoire

18 December 2013 - Tullow Oil plc (Tullow) announces that the Paon-2A appraisal well in the CI-103 licence offshore Côte d'Ivoire has determined the down-dip extent of the Paon oil accumulation. The well encountered the water below the oil accumulation discovered at the Paon-1X well and pressure logging has located the likely oil water contact.

To minimise the number of appraisal wells, Paon-2A was located 15km south west and approximately 370 metres down-dip of the Autruche light oil discovery made by the Paon-1X well in 2012. The well encountered Upper Cretaceous reservoir sandstones which were water bearing at this location. Pressure data from the Autruche age reservoirs intersected in Paon-2A indicate that the Autruche oil accumulation between this well and Paon-1X has a hydrocarbon column of at least 230 metres.

Following completion of logging operations the well will be plugged and abandoned. The Seadrill West Leo dynamically positioned semi-submersible drilled Paon-2A to a final depth of 5,380 metres in water depths of 2,366 metres.

Tullow (15% plus a 15% carried interest) operates the CI-103 licence and is partnered by Anadarko Petroleum (55%) and the Societé Nationale d'Opérations Pétrolières de Côte D'Ivoire (Petroci) (5% plus a 10% carried interest).

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

"The Paon-2A well has efficiently identified the likely depth of the oil water contact and we are reviewing the resource range and our future monetisation options. The well did not encounter oil at this location, reducing the upside volume potential associated with the Autruche field. However, including the up-dip potential above Paon-1X, the total hydrocarbon column of the field is inferred to be up to 700 metres."

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 Priscilla Garcia

Murray Consultants (Dublin) ([phone]) Ed Micheau 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 150 exploration and production licences across 25 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                          You Tube: www.youtube.com/TullowOilplc
Facebook: www.facebook.com/TullowOilplc                 LinkedIn: www.linkedin.com/company/Tullow-Oil 

IR App: http://bit.ly/TullowIRapp    

For further information please refer to the Tullow website at www.tullowoil.com.

 

END

 

 

DRLUBUWRORAUAAA