RNS Number : 8064X
Tullow Oil PLC
30 June 2008
News release
Uganda Block 3A: Kingfisher-2 Update
30 June 2008 - 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 UPDATE
Heritage Oil Limited (LSE: HOIL), 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 (+44 20 7638 9571) (+353 1 498 0300)
1000) Martin Jackson Joe Murray
Tom Hickey George Cazenove Joe Heron
Angus McCoss
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, C 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 www.tullowoil.com
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAEKNASXPEAE
|