June 30, 2008
Uganda Block 3A: Kingfisher-2 Update
LONDON, June 30 /PRNewswire-FirstCall/ -- Heritage Oil, the operator of the Kingfisher-2 exploratory appraisal well in Block 3A, Uganda, in which Tullow Oil plc (Tullow) is a 50% partner, today issued the following press release.
HERITAGE OIL Provides KINGFISHER-2, UGANDA DRILLING UPDATEHeritage Oil Limited , an independent upstream exploration and production company, is pleased to announce that the Kingfisher-2 exploration and appraisal well in Block 3A, Uganda, has currently reached a drilled depth of 2,922 metres. Excellent oil shows have already been encountered over a gross vertical interval of approximately 105 metres from three potential sandstone reservoir zones. Preliminary interpretation of the zones, prior to wireline logging, indicates they could be the lateral equivalent of three pay zones which production tested at a combined flow rate of 9,773 barrels of oil per day in the Kingfisher-1 well. Kingfisher-1 was completed in early 2007 and is located approximately 1.5 kilometres to the south-west of Kingfisher-2.
The Kingfisher-2 well is designed to appraise reservoir zones discovered by the Kingfisher-1 well, as well as explore a deeper potential objective not previously reached due to the limitations of the rig that was used to drill Kingfisher-1. When a total anticipated depth of approximately 4,100 metres has been reached, it is planned to also production test prospective zones of Kingfisher-2.
Tony Buckingham, CEO, commented:
"We are delighted to have encountered excellent oil shows over such a large vertical interval. This is very encouraging for increasing oil reserves in the Albert Basin and we look forward to undertaking successful production tests later this summer."
Heritage has a 50% interest in Block 3A with Tullow Oil as partner for the remaining 50%.
For further information contact: Tullow Oil plc Citigate Dewe Rogerson Murray Consultants (+44 20 8996 1000) (+44 20 7638 9571) (+353 1 498 0300) Tom Hickey Martin Jackson Joe Murray Angus McCoss George Cazenove Joe Heron Chris Perry 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/
Tullow Oil plc
CONTACT: Tom Hickey, Angus McCoss, or Chris Perry, all of Tullow Oilplc, +44 20 8996 1000; Martin Jackson, or George Cazenove, both of CitigateDewe Rogerson, +44 20 7638 9571; Joe Murray, or Joe Heron, +353 1 498 0300,both of Murray Consultants
Web site: http://www.tullowoil.com/