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Tullow reveals mixed exploration results from Ghana & Uganda

Tullow reveals mixed exploration results from Ghana & Uganda

Tullow plans to follow up the Jobi-East discovery with an accelerated drilling campaign, that will comprise up to four appraisal wells during the second half of 2011.

 

ullow Oil (LON:TLW) has had mixed success with the drill bit in Uganda and Ghana.

This morning it revealed a new oil find in untested waters offshore Ghana, however this ‘wildcat’ discovery is not commercial at this location. Meanwhile in Uganda Tullow has struck oil in two wells.

The Banda-1 ‘wildcat’ well was drilled to 4,580 metres on the deep-water offshore West Cape Three Points licence.

The wildcat well – which means it was the first well on completely untested ground – however only found a small amount light oil and most of the reservoir had poor quality. The well encountered a gross vertical interval of 300 metres, which Tullow said contains over 100 metres of low porosity sandstone and 3 metres with approximately 40 degree API oil pay.

"Banda-1 was our first wildcat designed specifically to investigate the potential of Cenomanian age reservoirs in West Cape Three Points,” said Tullow’s exploration director Anguss McCross.

“Finding some light oil in such a thick sandstone package is an encouraging first step, however the reservoir is poor quality at this location.” Tullow said it would integrate the Banda result into the regional geological model so that it can re-evaluate the potential of other prospects.

In Uganda Tullow has struck oil in two wells, Jobi-East-1 and Mpyo-3 wells, in line with pre-drill expectations. These two onshore wells were targeted based on previous seismic work and they have now been proven as oil accumulations.

"The Jobi-East-1 and Mpyo-3 well results mark an excellent start to this next phase of our exploration and appraisal campaign in the Lake Albert Rift Basin,” McCross said. “We look forward to many more exciting wells as we endeavour to determine the total oil resource base which will underpin the basin-wide development preparations currently in progress."

Tullow highlighted that Jobi-East-1 discovered 20 metres of net hydrocarbon bearing reservoir.  The well was drilled in a ‘fault block’ adjacent to the giant Jobi-Rii oil field, Tullow highlighted. The group confirmed the presence of oil in two zones of high quality reservoir, totalling 15 metres of net pay, and gas has also been found within sands totalling 5 metres of net pay.

The well has been suspended for future re-entry to conduct production testing. 

Tullow plans to follow up the discovery with an accelerated drilling campaign, that will comprise up to four appraisal wells during the second half of 2011.

Mpyo-3 was drilled 1.6 kilometres southeast of the Mpyo-1 discovery and it intersected 21 metres of oil bearing reservoir sands. Tullow said that logging operations have confirmed the sands are good quality and that they contain highly viscous oil, similar to that encountered in Mpyo-1.

 
 
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