LONDON, May 13 /PRNewswire/ -- Tullow Oil plc (Tullow) announces that
the Taitai-1 exploration well, drilled in the Butiaba region of Uganda
Block 2, has encountered five metres of net gas pay and at least eight
metres of net oil pay. A thick section of oil-stained basement was also
encountered and provides upside potential both at Taitai-1 and elsewhere in
the Lake Albert Rift Basin.
The well was drilled to a total depth of 1,006 metres and has been
successfully logged. Downhole pressure testing and sampling has confirmed
the presence of moveable 30 degrees API oil and a potential oil column of
up to 80 metres, in sands above the basement play.
The uppermost oil sand exhibited high permeability; however pressure
sampling of underlying oil sands was inconclusive. This uncertainty
provides upside beyond the eight metres net oil pay, consequently the well
is being sidetracked and the oil bearing zones cored to collect further
reservoir and fluid information for detailed analysis.
The Taitai-1 well is the first of a nine-well exploration campaign in
the Butiaba area of the Lake Albert Rift Basin. On completion of operations
at Taitai-1, the rig will move 10 kilometres to the north-east and drill
the Lanya-1 prospect at the end of May. The best candidates for testing
will be assessed on overall merit, at the end of the drilling campaign.
Commenting Today, Aidan Heavey, Chief Executive of Tullow said:
"The discovery of oil at Taitai has proved the existence of a working
petroleum system over 70 kilometres from the previous wells drilled in the
Kaiso-Tonya region and further reinforces the potential of Lake Albert Rift
Basin as a major emerging petroleum province. We are encouraged by the
Taitai result and look forward to the remainder of the campaign in the
Butiaba area."
Notes to Editors
Tullow is a leading independent oil & gas, exploration and production
group, quoted on the London and Irish Stock Exchanges (symbol: TLW) and is
a constituent of the FTSE 100 Index. The Group has interests in over 100
exploration and production licences across 23 countries and focuses on four
core areas: Europe, Africa, South Asia and South America.
Tullow's European interests are primarily focused on gas in the UK
Southern North Sea where it has significant interests in the
Caister-Murdoch System and the Thames-Hewett areas and operates over 70% of
its production. The company also has interests offshore the Netherlands and
Portugal.
In Africa, Tullow has exploration and production in Gabon, Cote
d'Ivoire, Mauritania and Equatorial Guinea and two large appraisal and
development programmes in Ghana and Uganda. Tullow also has exploration
interests in Mauritania, Senegal, Congo (DRC), Tanzania, Madagascar,
Namibia and Angola.
In South Asia, Tullow has exploration and production in Pakistan and
Bangladesh and high impact exploration activities in India.
In South America, Tullow has high impact exploration interests in
Trinidad and Tobago, French Guiana and Suriname.
For further information please refer to our website at http://www.tullowoil.com.
Contact: Aidan Heavey
Tom Hickey
Chris Perry
Tullow Oil plc
+ 44-20-8996-1000
- or -
Brian J. Rafferty
Taylor Rafferty
212-889-4350
SOURCE Tullow Oil plc
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Related links:
http://www.tullowoil.com
CONTACT:
Aidan Heavey, Tom Hickey, or Chris Perry, all
of Tullow Oil plc, +44-20-8996-1000; Brian J. Rafferty of Taylor
Rafferty, +1-212-889-4350
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