TNT Tintra Plc

 

TIDMTLW 
 
RNS Number : 5901E 
Tullow Oil PLC 
23 December 2009 
 

News Release 
 
 
 
 
 
 
Mahogany Deep-2 appraisal well confirms southerly extent of Jubilee field 
 
23 December 2009 - Tullow Oil plc (Tullow) announces that the Mahogany Deep-2 
appraisal well offshore Ghana 
confirmed the down-dip extent of the main Jubilee reservoirs in the West Cape 
Three Points Block and 
intersected two new light oil accumulations. Good 
quality reservoirs were encountered in the Mahogany Deep section but were water 
bearing at this location. 
 
 
Mahogany Deep-2, drilled 3 km from Mahogany-3, is the furthest down-dip Jubilee 
well in the West Cape Three Points licence. Results of drilling, wireline 
logging and samples of reservoir fluid indicate that the well has encountered 
good quality hydrocarbon-bearing reservoir sandstones in three zones. An 
interval of 12 metres net pay has proved an extension of the main Jubilee 
reservoirs. In addition, a new shallower accumulation, with 2 
 metres net 
pay, was encountered and supports exploration prospectivity in undrilled areas 
to the south and east. 
 
 
In total, the well intersected 53 metres of net reservoir sandstones, 20 metres 
of which were in the Mahogany 
Deep section. These were found to be water bearing at this location but are not 
connected to the Mahogany Deep 
accumulation at Mahogany-3. Further extensions to the Mahogany Deep accumulation 
may exist to the south and east of Mahogany-3. 
 
 
A new reservoir was also encountered in a deeper stratigraphic level beneath the 
Mahogany Deep section and an oil sample was successfully recovered from a 1 
metre zone which has not been encountered in any other wells in the West Cape 
Three Points licence to date. 
 
 
The new accumulations discovered by the well will now be evaluated using the 
recently reprocessed high resolution 3D seismic data and may be the target of 
future drilling. Further potential extensions of the Jubilee field and 
associated prospectivity will be drilled early in 2010. 
 
 
The Aban Abraham dynamically positioned drill-ship drilled Mahogany Deep-2 to 
the current depth of 4,326 metres in water depths of 1,354 metres. 
 
 
Tullow has a 22.896% interest in the West Cape Three Points licence and its 
partners are Kosmos Energy (Operator) and a subsidiary of Anadarko Petroleum 
Corporation, (30.875% each), the E.O. Group (3.5%), Sabre Oil & Gas (1.854%) and 
the Ghana National Petroleum Corporation (GNPC) (10% carried interest). 
 
 
Further updates on the Jubilee field will be contained in the Group's Trading 
Statement which is now scheduled for release on Wednesday 27 January 2010. 
 
 
Commenting today, Angus McCoss, Exploration Director, said: 
"Confirming the southerly extent of the main Jubilee reservoirs and 
encountering two new oil pools takes us another step closer to realising the 
full potential of the Greater Jubilee Area. Results from the current exploratory 
appraisal campaign are being integrated to define the resource base and the 
future phases of development 
beyond first oil in Q4 2010. 
 
 
We also look forward to continued exploration and appraisal success in Ghana and 
throughout the Equatorial Atlantic region where Tullow has built a commanding 
acreage position. We are currently drilling the potentially 
high-impact Tweneboa-2 appraisal well and expect to report on its result in 
February." 
 
 
 
 
FOR FURTHER INFORMATION CONTACT: 
 
+-------------------------+-------------------------+-------------------------+ 
| Tullow Oil plc          | Citigate Dewe Rogerson  | Murray Consultants      | 
| (+44 20 8996 1000)      | (+44 207 638 9571)      | (+353 1 498 0300)       | 
| Angus McCoss            | Martin Jackson          | Joe Murray              | 
| Chris Perry             | George Cazenove         | Ed Micheau              | 
| James Arnold            |                         |                         | 
+-------------------------+-------------------------+-------------------------+ 
 
 
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 85 
exploration and production licences across 23 countries and focuses on four core 
areas: Africa, Europe, South Asia and South America. 
 
 
In Africa, Tullow has production in Gabon, Côte d'Ivoire, Mauritania, Congo 
(Brazzaville) and Equatorial Guinea and two large appraisal and development 
programmes in Ghana and Uganda. Tullow also has exploration interests in Gabon, 
Côte d'Ivoire, Liberia, Sierra Leone, Mauritania, Senegal, Congo (DRC), 
Tanzania, Madagascar, 
Namibia and Angola. 
 
 
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 area. The company also has interests offshore the 
Netherlands and 
Portugal. 
 
 
In South Asia, Tullow has exploration and production in Pakistan and Bangladesh. 
In South America, Tullow has exploration interests in Guyana, French Guiana and 
Suriname. 
 
 
For further information please refer to our website at www.tullowoil.com. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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