Well update - Ethiopia

RNS Number : 8768H

Tullow Oil PLC

23 May 2014

 



News Release

Well update - Ethiopia

23 May 2014 - Tullow Oil plc (Tullow) announces that the Shimela-1 well encountered water bearing reservoirs.

Shimela-1 in the South Omo Block, onshore Ethiopia, was drilled to test a prospect in a north-western sub-basin of the vast Chew Bahir basin. The frontier wildcat well encountered lacustrine and volcanic rocks including almost 100 metres of net sandstone reservoir within siltstones and claystones. Trace thermogenic gas shows were recorded at 1,900 metres.

The Exalo 205 rig drilled Shimela-1 to a final depth of 1,940 metres. The rig will now be moved to drill the Gardim-1 wildcat exploration well in a completely separate sub-basin, in the south-eastern corner of the Chew Bahir basin.

Tullow Operates the South Omo Block with 50% equity and is partnered by Africa Oil Corporation (30%) and Marathon Oil Ethiopia Limited B.V. (20%), a wholly owned subsidiary of Marathon Oil Corporation (NYSE: MRO).

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

"Although the Shimela well only found traces of thermogenic gas, it has provided key data to continue to build our understanding of the north-western part of the Chew Bahir basin. The prospectivity at the Gardim-1 well, which is targeting an independent petroleum system in a separate south-eastern sub-basin, is not affected by this result.

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 24 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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