July 30, 2008
Tullow Oil Plc – India Drilling Update
LONDON, July 30 /PRNewswire-FirstCall/ -- Tullow Oil Plc announces that the C1 well, located in Block CB-ON-1 in the Cambay Rift Basin of India, has failed to encounter hydrocarbons.
Well C1, in a basin margin location in the east of the CB-ON-1 block, spudded on 27 June and reached its total depth of 1,916m on 19 July.
The main objective sands between approximately 650 metres and 750 metres were present as prognosed but proved to be water-bearing based on petrophysical log evaluation and pressure gradient data. Minor gas shows were encountered in a deeper claystone / siltstone sequence, however the objective sand in this sequence was poorly developed and could not be logged as hole stability problems in the lower part of the well prevented the logging tools passing below 1,183m. Consequently the precise extent and quality of this sand cannot be determined.
This is the first well in a campaign which will comprise at least 4 wells, targeting multiple play types within the Block. The John Energy #20 rig will now move to drill the G1 target, which will test a separate play area to the north of the block. The G1 well is expected to commence drilling by mid August and has an anticipated duration of 30 days.
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 Tullow Oil plc + 44-20-8996-1000 - or - Brian J. Rafferty Taylor Rafferty 212-889-4350
Tullow Oil Plc
CONTACT: Aidan Heavey or Tom Hickey, both of Tullow Oil plc,+44-20-8996-1000; or Brian J. Rafferty of Taylor Rafferty, +1-212-889-4350,for Tullow Oil plc
Web site: http://www.tullowoil.com/