Tullow Oil PLC (TLW.LN), an oil and gas exploration company announced Monday for the Cormoran-1 exploration well in Mauritania, has been drilled to a total depth of 4,695 meters below sea level and has been plugged and abandoned as a gas discovery.

MAIN FACTS:

-Stabilized gas flow rates of between 22 million and 24 million standard cubic feet per day or MMscfpd, were obtained during a test of one of the four separate gas columns encountered by the well.

-The Cormoran-1 exploration well is located in Block 7, offshore Mauritania.

-It lies 2km to the south of the Pelican-1 gas discovery well, which was drilled in late 2003. The well was drilled by Dana Petroleum, as Operator of Block 7, using the Maersk Deliverer deep water semi-submersible drilling rig.

-Water depth at the well location is approximately 1,630 meters.

-The primary purpose of the Cormoran-1 well was to test the Cormoran prospect, which adjoins but lies at a greater depth than the Pelican discovery.

-A secondary exploration objective was the Petronia prospect, which lies beneath the Cormoran prospect.

-A further objective of the well was to provide appraisal information on the Pelican gas discovery.

-The Cormoran-1 well encountered generally thin but good quality, gas-bearing, sands within the Pelican Group at depths between 3,376 meters and 3,711 meters true vertical depth subsea or TVDSS.

-This interval comprised two gas columns, one in the Upper Pelican Group (3,376 meters to 3,420 meters TVDSS) and one in the Lower Pelican Group (3,691 meters to 3,711 meters TVDSS).

-Good quality, gas-bearing, sands were also encountered within the Cormoran prospect, in the gross interval from 4,351 meters to 4,471 meters TVDSS, and at the top of the Petronia prospect, in the gross interval from 4,660 meters to 4,695 meters TVDSS.

-Drilling was stopped at a depth of 4,695 meters TVDSS for operational reasons (elevated pore pressures).

-The well was still in gas-bearing reservoir section at this depth.

-A drill stem test was carried out across a 33 meter interval in the Lower Pelican Group (3,679 to 3,712 TVDSS).

-Stabilized flow rates of up to 22 to 24 MMscfpd were obtained on a 32/64 inch choke, the flow rate being constrained by the need to avoid sand production.

-Substantially higher flow rates could have been achieved were it not for this operational constraint.

-Shares closed Friday at 1331 pence

-By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; zechariah.hemans@dowjones.com
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