October 23, 2008
Tullow Oil Plc – India Campaign Update
LONDON, Oct. 23 /PRNewswire/ -- Tullow Oil plc ("Tullow") announces that it has concluded the current drilling campaign in India with completion of the latest well in Block CB-ON/1. The F1 well failed to encounter hydrocarbons and has been plugged and abandoned.
Drilling operations at F1 commenced on 30 September and the well reached a total depth of 2,164 m on 18 October. No significant porous zones were encountered in the primary Olpad objective and sands in the secondary Kalol objective were poorly developed. No evidence of hydrocarbons were encountered in either zone during drilling or logging operations.
F1 was the third and final well in the 2008 drilling campaign. The CB-ON/1 partners have agreed to release the rig while they reassess the remaining prospectivity of the block using data from the recently drilled wells.
Commenting today, Aidan Heavey, Chief Executive, said:
"The recent drilling campaign has completed our agreed licence obligations on CB-ON/1 but unfortunately results did not meet with our expectations for the area. The information and data gained from the three wells will now be fed into our regional model enabling us to focus on the forward exploration programme for the acreage."
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 approximately 100 exploration and production licences across 22 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 production in Gabon, Cote 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, Cote d'Ivoire, Mauritania, Senegal, Congo (DRC), Tanzania, Madagascar, Namibia and Angola.
In South Asia, Tullow has exploration and production in Pakistan and Bangladesh and exploration activities in India.
In South America, Tullow has 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 Chris Perry Tullow Oil plc 44-20-8996-1000 - or - Mahmoud Siddig Taylor Rafferty 212-889-4350
Tullow Oil plc
CONTACT: Aidan Heavey, or Chris Perry, both of Tullow Oil plc,+44-20-8996-1000; or Mahmoud Siddig of Taylor Rafferty for Tullow Oil plc,+1-212-889-4350
Web Site: http://www.tullowoil.com/